Atlas Energy Solutions (NYSE:AESI) Shares Down 13.2% – What’s Next?

Atlas Energy Solutions Inc. (NYSE:AESI)’s share price was down 13.2% on Friday . The stock traded as low as $14.21 and last traded at $13.73. Approximately 119,025 shares traded 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.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AESI shares. Raymond James lowered Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Benchmark cut their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barclays decreased their price objective on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Stephens increased their price objective on shares of 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, Bank of America reissued a “neutral” rating and set a $22.50 target price on shares of Atlas Energy Solutions in a report on Monday, January 13th. Six equities research 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 a consensus rating of “Moderate Buy” and an average price target of $23.83.

Atlas Energy Solutions Trading Down 12.8 %

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 company’s 50-day moving average is $19.76 and its 200 day moving average is $21.18. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 17.46 and a beta of 1.20.

Atlas Energy Solutions (NYSE:AESI) last posted 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). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $271.34 million for the quarter, compared to analysts’ expectations of $272.94 million. Research analysts predict that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a $0.25 dividend. The ex-dividend date was Friday, February 21st. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.25%. Atlas Energy Solutions’s payout ratio is 178.57%.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Brian Anthony Leveille sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $23.88, for a total transaction of $119,400.00. Following the completion of the sale, the insider now owns 382,010 shares of the company’s stock, valued at $9,122,398.80. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Gregory M. Shepard purchased 32,155 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the purchase, the insider now directly owns 7,651,210 shares in the company, valued at $145,679,038.40. This represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 45,000 shares of company stock valued at $1,049,750 in the last three months. 24.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of hedge funds have recently made changes to their positions in AESI. CBIZ Investment Advisory Services LLC increased its position in shares of Atlas Energy Solutions by 62.9% during the fourth 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 holdings 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 worth $979,000 after buying an additional 711 shares in the last quarter. Tower Research Capital LLC TRC raised its position 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 valued at $31,000 after buying an additional 1,047 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Atlas Energy Solutions by 8.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 14,770 shares of the company’s stock worth $328,000 after buying an additional 1,100 shares in the last quarter. Finally, Quarry LP acquired a new position in Atlas Energy Solutions during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.