Atlas Energy Solutions (NYSE:AESI) Reaches New 52-Week Low After Analyst Downgrade

Atlas Energy Solutions Inc. (NYSE:AESI)’s share price reached a new 52-week low during trading on Tuesday after Barclays lowered their price target on the stock from $23.00 to $19.00. Barclays currently has an equal weight rating on the stock. Atlas Energy Solutions traded as low as $17.34 and last traded at $17.38, with a volume of 168176 shares trading hands. The stock had previously closed at $18.02.

Several other brokerages have also recently weighed in on AESI. Bank of America reissued a “neutral” rating and issued a $22.50 price objective on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Raymond James lowered shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Citigroup lowered shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Benchmark cut their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.39.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.50, for a total value of $225,000.00. Following the transaction, the insider now owns 897,604 shares of the company’s stock, valued at approximately $20,196,090. This represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Gregory M. Shepard bought 32,155 shares of Atlas Energy Solutions stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $19.04 per share, with a total value of $612,231.20. Following the completion of the transaction, the insider now owns 7,651,210 shares of the company’s stock, valued at $145,679,038.40. This represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 63,571 shares of company stock valued at $1,473,876 over the last three months. Company insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Atlas Energy Solutions by 62.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Atlas Energy Solutions by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock valued at $979,000 after buying an additional 711 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Atlas Energy Solutions by 307.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company’s stock worth $31,000 after buying an additional 1,047 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of Atlas Energy Solutions by 8.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 14,770 shares of the company’s stock valued at $328,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Quarry LP purchased a new stake in Atlas Energy Solutions during the 4th quarter valued at about $27,000. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Trading Down 3.5 %

The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average is $22.33 and its two-hundred day moving average is $21.69. The firm has a market cap of $1.92 billion, a P/E ratio of 22.07 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12). The company had revenue of $271.34 million for the quarter, compared to analysts’ expectations of $272.94 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. Analysts predict that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 5.75%. Atlas Energy Solutions’s payout ratio is currently 178.57%.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.