Atlas Energy Solutions (NYSE:AESI) Trading Down 13.2% - What's Next?

Shares of Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report) dropped 13.2% on Friday . The company traded as low as $14.21 and last traded at $13.73. Approximately 119,025 shares changed hands during trading, a decline of 90% from the average daily volume of 1,165,514 shares. The stock had previously closed at $15.81.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Stephens raised their price objective on Atlas Energy Solutions from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Raymond James downgraded shares of Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 6th. Piper Sandler started coverage on shares of Atlas Energy Solutions in a report on Wednesday, March 12th. They set an "overweight" rating and a $22.00 price objective on the stock. Benchmark decreased their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group assumed coverage on Atlas Energy Solutions in a report on Friday, December 13th. They issued a "neutral" rating and a $23.00 target price on the stock. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.83.

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Atlas Energy Solutions Stock Up 13.5 %

The firm has a market capitalization of $1.79 billion, a P/E ratio of 18.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The stock has a fifty day moving average of $19.06 and a 200 day moving average of $20.99.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). The company 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%. On average, research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 EPS 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. Shareholders of record on Friday, February 21st were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 6.81%. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's payout ratio is 178.57%.

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 10,000 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $21.96, for a total transaction of $219,600.00. Following the transaction, the insider now owns 907,604 shares in the company, valued at $19,930,983.84. The trade was a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $24.46, for a total value of $305,750.00. Following the transaction, the insider now directly owns 362,010 shares of the company's stock, valued at $8,854,764.60. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock worth $1,049,750 over the last ninety days. Insiders own 24.34% of the company's stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Several hedge funds have recently added to or reduced their stakes in AESI. Quarry LP purchased a new position in shares of Atlas Energy Solutions in the 4th quarter worth about $27,000. CBIZ Investment Advisory Services LLC increased its stake in Atlas Energy Solutions by 62.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company's stock valued at $30,000 after purchasing an additional 523 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in 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 last quarter. Global Retirement Partners LLC lifted its stake in shares of Atlas Energy Solutions by 191.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,941 shares of the company's stock worth $43,000 after buying an additional 1,276 shares in the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of Atlas Energy Solutions during the fourth quarter valued at approximately $55,000. 34.59% of the stock is owned by institutional investors.

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.