Solaris Energy Infrastructure (NYSE:SEI) Shares Up 8.4% – Here’s What Happened

Solaris Energy Infrastructure, Inc. (NYSE:SEI)’s share price shot up 8.4% during trading on Monday . The company traded as high as $56.93 and last traded at $56.35. 1,115,913 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 2,797,361 shares. The stock had previously closed at $52.00.

Wall Street Analyst Weigh In

SEI has been the topic of several recent research reports. Barclays increased their price target on Solaris Energy Infrastructure from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Citigroup cut their price objective on shares of Solaris Energy Infrastructure from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Zacks Research raised shares of Solaris Energy Infrastructure from a “strong sell” rating to a “hold” rating in a research note on Thursday. Morgan Stanley assumed coverage on shares of Solaris Energy Infrastructure in a report on Tuesday, December 2nd. They issued an “overweight” rating and a $68.00 target price for the company. Finally, UBS Group set a $65.00 price target on shares of Solaris Energy Infrastructure in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.10.

Solaris Energy Infrastructure Trading Up 8.1%

The stock has a fifty day moving average of $52.72 and a 200-day moving average of $47.29. The company has a market cap of $3.85 billion, a PE ratio of 79.17 and a beta of 1.13. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.87 and a current ratio of 2.96.

Solaris Energy Infrastructure (NYSE:SEI) last released its earnings results on Tuesday, February 24th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The business had revenue of $179.70 million for the quarter. Solaris Energy Infrastructure had a return on equity of 11.83% and a net margin of 4.81%. Sell-side analysts anticipate that Solaris Energy Infrastructure, Inc. will post 0.36 EPS for the current fiscal year.

Insider Activity at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, Director Laurie H. Argo sold 2,300 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $44.25, for a total value of $101,775.00. Following the completion of the sale, the director directly owned 50,039 shares of the company’s stock, valued at $2,214,225.75. The trade was a 4.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanda M. Brock bought 3,669 shares of Solaris Energy Infrastructure stock in a transaction dated Wednesday, December 17th. The shares were bought at an average cost of $40.89 per share, for a total transaction of $150,025.41. Following the completion of the transaction, the chief executive officer owned 141,080 shares of the company’s stock, valued at approximately $5,768,761.20. This trade represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 21.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Solaris Energy Infrastructure

A number of institutional investors and hedge funds have recently bought and sold shares of SEI. CenterBook Partners LP raised its holdings in shares of Solaris Energy Infrastructure by 513.1% in the third quarter. CenterBook Partners LP now owns 415,453 shares of the company’s stock valued at $16,606,000 after acquiring an additional 347,693 shares in the last quarter. Hiddenite Capital Partners LP bought a new position in Solaris Energy Infrastructure during the 3rd quarter worth about $13,990,000. AGF Management Ltd. bought a new position in Solaris Energy Infrastructure during the 3rd quarter worth about $6,613,000. Ardsley Advisory Partners LP purchased a new position in Solaris Energy Infrastructure during the 2nd quarter valued at about $566,000. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Solaris Energy Infrastructure by 11.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,504,738 shares of the company’s stock valued at $42,569,000 after purchasing an additional 158,338 shares in the last quarter. 67.44% of the stock is owned by institutional investors.

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.