Atlas Energy Solutions (NYSE:AESI) Hits New 1-Year Low After Analyst Downgrade

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) shares hit a new 52-week low during mid-day 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 traded. The stock had previously closed at $18.02.

AESI has been the subject of a number of other research reports. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They set a "neutral" rating and a $23.00 price objective for the company. Bank of America reissued a "neutral" rating and issued a $22.50 price target on shares of Atlas Energy Solutions in a report on Monday, January 13th. Benchmark lowered their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Stephens raised their target price on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. Finally, Raymond James downgraded Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.39.

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Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard purchased 32,155 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $19.04 per share, with a total value of $612,231.20. Following the transaction, the insider now directly owns 7,651,210 shares in the company, valued at approximately $145,679,038.40. The trade was a 0.42 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $24.46, for a total transaction of $305,750.00. Following the completion of the sale, the insider now owns 362,010 shares in the company, valued at approximately $8,854,764.60. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,571 shares of company stock worth $1,473,876. Company insiders own 24.34% of the company's stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Atlas Energy Solutions by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock valued at $153,382,000 after buying an additional 773,035 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Atlas Energy Solutions by 31.5% in the fourth quarter. First Trust Advisors LP now owns 3,908,810 shares of the company's stock worth $86,697,000 after acquiring an additional 935,410 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Atlas Energy Solutions by 25.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,390,269 shares of the company's stock valued at $75,197,000 after acquiring an additional 689,846 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of Atlas Energy Solutions by 19.3% in the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company's stock worth $49,856,000 after purchasing an additional 363,742 shares during the last quarter. Finally, State Street Corp raised its position in shares of Atlas Energy Solutions by 15.0% in the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company's stock worth $38,173,000 after purchasing an additional 227,776 shares during the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Atlas Energy Solutions Trading Up 2.5 %

The stock's 50 day moving average is $21.97 and its 200-day moving average is $21.60. The company has a market cap of $1.95 billion, a P/E ratio of 22.40 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its 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 firm had revenue of $271.34 million during the quarter, compared to the consensus estimate of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. Research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were issued a $0.25 dividend. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.65%. Atlas Energy Solutions's dividend payout ratio (DPR) is presently 178.57%.

Atlas Energy Solutions Company Profile

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.