Solaris Energy Infrastructure (NYSE:SEI) Trading 7.5% Higher – Here’s Why

Solaris Energy Infrastructure, Inc. (NYSE:SEI) traded up 7.5% during trading on Thursday . The company traded as high as $56.27 and last traded at $55.90. 1,388,237 shares changed hands during trading, a decline of 34% from the average session volume of 2,110,160 shares. The stock had previously closed at $52.02.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Solaris Energy Infrastructure in a research note on Monday, December 29th. Zacks Research lowered Solaris Energy Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Barclays upped their price objective on Solaris Energy Infrastructure from $44.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Citigroup lifted their target price on Solaris Energy Infrastructure from $38.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Morgan Stanley assumed coverage on Solaris Energy Infrastructure in a research report on Tuesday, December 2nd. They set an “overweight” rating and a $68.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $53.70.

Solaris Energy Infrastructure Trading Up 7.1%

The firm’s 50-day simple moving average is $48.18 and its 200 day simple moving average is $40.54. The stock has a market cap of $3.81 billion, a P/E ratio of 59.25 and a beta of 1.12. The company has a current ratio of 2.39, a quick ratio of 2.28 and a debt-to-equity ratio of 0.69.

Solaris Energy Infrastructure (NYSE:SEI) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08. Solaris Energy Infrastructure had a return on equity of 9.38% and a net margin of 7.02%.The business had revenue of $166.84 million during the quarter, compared to analyst estimates of $142.82 million. As a group, equities research analysts anticipate that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current year.

Insider Activity at Solaris Energy Infrastructure

In related news, Director Laurie H. Argo sold 2,300 shares of Solaris Energy Infrastructure stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $44.25, for a total transaction of $101,775.00. Following the sale, the director directly owned 50,039 shares in the company, valued at $2,214,225.75. The trade was a 4.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cynthia M. Durrett sold 47,011 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $44.62, for a total transaction of $2,097,630.82. Following the completion of the transaction, the insider owned 131,152 shares of the company’s stock, valued at $5,852,002.24. This represents a 26.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,164,094 shares of company stock valued at $108,255,773. 21.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Solaris Energy Infrastructure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. bought a new stake in shares of Solaris Energy Infrastructure in the 2nd quarter worth $25,000. Strs Ohio bought a new position in Solaris Energy Infrastructure during the first quarter valued at about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Solaris Energy Infrastructure during the third quarter worth about $31,000. Larson Financial Group LLC raised its position in Solaris Energy Infrastructure by 363.0% in the third quarter. Larson Financial Group LLC now owns 1,014 shares of the company’s stock worth $41,000 after acquiring an additional 795 shares in the last quarter. Finally, Chung Wu Investment Group LLC bought a new stake in Solaris Energy Infrastructure in the third quarter worth about $52,000. Institutional investors own 67.44% of the company’s stock.

Solaris Energy Infrastructure Company Profile

Solaris Energy Infrastructure Fund Inc (NYSE: SEI) is a closed-end management investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund pursues its objective by investing primarily in equity securities of energy infrastructure companies, including master limited partnerships (MLPs) and other midstream entities. SEI is externally managed by Solaris Asset Management LP, a firm specializing in energy infrastructure investments.

The fund’s portfolio targets businesses involved in the gathering, processing, transportation, storage and terminalling of oil, natural gas and refined products.