Solaris Energy Infrastructure (NYSE:SEI) Stock Price Down 11% – Here’s Why

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) traded down 11% during mid-day trading on Thursday . The company traded as low as $49.03 and last traded at $49.12. 1,969,421 shares were traded during trading, a decline of 32% from the average session volume of 2,897,641 shares. The stock had previously closed at $55.22.

Analyst Upgrades and Downgrades

SEI has been the topic of a number of recent research reports. Northland Securities set a $70.00 target price on Solaris Energy Infrastructure in a report on Monday, January 5th. Morgan Stanley started coverage on Solaris Energy Infrastructure in a research note on Tuesday, December 2nd. They set an “overweight” rating and a $68.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Solaris Energy Infrastructure in a report on Tuesday, January 27th. Piper Sandler increased their target price on shares of Solaris Energy Infrastructure from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Finally, Barclays raised their price target on shares of Solaris Energy Infrastructure from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.22.

Solaris Energy Infrastructure Stock Down 2.7%

The stock has a 50 day moving average price of $51.66 and a 200 day moving average price of $45.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.28 and a current ratio of 2.39. The company has a market capitalization of $3.40 billion, a P/E ratio of 69.86 and a beta of 1.14.

Solaris Energy Infrastructure (NYSE:SEI) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The business had revenue of $179.70 million during the quarter. Solaris Energy Infrastructure had a net margin of 4.81% and a return on equity of 12.06%. Equities research analysts forecast that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity at Solaris Energy Infrastructure

In related news, insider Cynthia M. Durrett sold 47,011 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $44.62, for a total value of $2,097,630.82. Following the sale, the insider owned 131,152 shares of the company’s stock, valued at approximately $5,852,002.24. The trade was a 26.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aj Teague bought 2,310 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was purchased at an average cost of $43.13 per share, with a total value of $99,630.30. Following the completion of the transaction, the director directly owned 106,465 shares of the company’s stock, valued at approximately $4,591,835.45. The trade was a 2.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 21.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. purchased a new position in shares of Solaris Energy Infrastructure in the fourth quarter worth about $10,591,000. Empowered Funds LLC purchased a new position in Solaris Energy Infrastructure in the 4th quarter valued at approximately $92,000. XTX Topco Ltd raised its holdings in Solaris Energy Infrastructure by 169.3% during the 4th quarter. XTX Topco Ltd now owns 33,129 shares of the company’s stock valued at $1,523,000 after acquiring an additional 20,826 shares during the period. Zacks Investment Management purchased a new stake in shares of Solaris Energy Infrastructure during the fourth quarter worth $2,240,000. Finally, VARCOV Co. purchased a new stake in shares of Solaris Energy Infrastructure during the fourth quarter worth $415,000. Institutional investors own 67.44% of the company’s stock.

About Solaris Energy Infrastructure

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.