Atlas Energy Solutions (NYSE:AESI) Shares Gap Down – Should You Sell?

by · The Cerbat Gem

Atlas Energy Solutions Inc. (NYSE:AESI – Get Free Report)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $21.65, but opened at $20.70. Atlas Energy Solutions shares last traded at $19.58, with a volume of 593,908 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Tudor, Pickering, Holt & Co. initiated coverage on shares of Atlas Energy Solutions in a report on Monday, June 24th. They issued a “buy” rating for the company. Royal Bank of Canada dropped their price target on shares of Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday. Benchmark reissued a “buy” rating and issued a $27.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, Bank of America reduced their price target on Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Atlas Energy Solutions has a consensus rating of “Buy” and a consensus target price of $26.13.

Read Our Latest Analysis on Atlas Energy Solutions

Atlas Energy Solutions Stock Performance

The stock has a fifty day simple moving average of $20.89 and a two-hundred day simple moving average of $21.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 6.47 and a beta of 0.56.

Atlas Energy Solutions (NYSE:AESI – Get Free Report) last released its earnings results on Monday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.18). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The business had revenue of $287.52 million for the quarter, compared to analyst estimates of $270.55 million. During the same period in the prior year, the business earned $0.69 EPS. The company’s revenue for the quarter was up 77.7% on a year-over-year basis. Analysts forecast that Atlas Energy Solutions Inc. will post 1.48 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.92 annualized dividend and a dividend yield of 4.50%. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.22. Atlas Energy Solutions’s payout ratio is currently 73.02%.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the sale, the insider now directly owns 943,317 shares of the company’s stock, valued at approximately $18,338,082.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the transaction, the insider now owns 943,317 shares in the company, valued at approximately $18,338,082.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Gregory M. Shepard acquired 3,248 shares of Atlas Energy Solutions stock in a transaction on Thursday, July 18th. The stock was purchased at an average cost of $21.68 per share, with a total value of $70,416.64. Following the purchase, the insider now directly owns 7,503,197 shares of the company’s stock, valued at approximately $162,669,310.96. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 25,713 shares of company stock valued at $524,117 over the last ninety days. 24.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. increased its position in shares of Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after acquiring an additional 1,308 shares in the last quarter. Amalgamated Bank lifted its position in Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after acquiring an additional 1,801 shares in the last quarter. CWM LLC boosted its stake in Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Atlas Energy Solutions during the 1st quarter worth approximately $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Atlas Energy Solutions in the second quarter worth approximately $74,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

About Atlas Energy Solutions

(Get Free Report)

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.

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