Solaris Energy Infrastructure (NYSE:SEI) Stock Price Down 7.9% – Here’s Why

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) fell 7.9% during mid-day trading on Friday . The stock traded as low as $55.24 and last traded at $55.64. Approximately 1,362,919 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 2,671,429 shares. The stock had previously closed at $60.38.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SEI. Stifel Nicolaus lifted their target price on Solaris Energy Infrastructure from $71.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Needham & Company LLC initiated coverage on Solaris Energy Infrastructure in a report on Monday, June 29th. They set a “buy” rating and a $97.00 price objective for the company. Barclays raised their price objective on Solaris Energy Infrastructure from $74.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Piper Sandler boosted their target price on Solaris Energy Infrastructure from $65.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Citigroup lifted their price target on Solaris Energy Infrastructure from $61.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $86.25.

Solaris Energy Infrastructure Stock Performance

The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 1.23. The company has a market cap of $4.05 billion, a P/E ratio of 61.92 and a beta of 1.17. The business has a fifty day moving average of $71.76 and a 200 day moving average of $63.19.

Solaris Energy Infrastructure (NYSE:SEI) last announced its quarterly earnings results on Monday, April 27th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.18. The company had revenue of $196.24 million during the quarter. Solaris Energy Infrastructure had a return on equity of 13.33% and a net margin of 6.69%. On average, equities analysts predict that Solaris Energy Infrastructure, Inc. will post 1.09 EPS for the current year.

Insider Activity at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, Director W Howard Keenan, Jr. sold 2,000,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $74.50, for a total value of $149,000,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ray N. Walker, Jr. sold 56,841 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $72.11, for a total value of $4,098,804.51. Following the completion of the sale, the director owned 5,760 shares in the company, valued at $415,353.60. The trade was a 90.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,099,593 shares of company stock worth $297,782,099 over the last 90 days. 20.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Solaris Energy Infrastructure

A number of hedge funds have recently bought and sold shares of SEI. Creative Financial Designs Inc. ADV grew its position in Solaris Energy Infrastructure by 5.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,920 shares of the company’s stock valued at $180,000 after purchasing an additional 205 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Solaris Energy Infrastructure by 1.1% in the third quarter. Legal & General Group Plc now owns 36,698 shares of the company’s stock worth $1,467,000 after buying an additional 391 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Solaris Energy Infrastructure by 3.3% during the second quarter. Cerity Partners LLC now owns 12,551 shares of the company’s stock valued at $355,000 after buying an additional 397 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Solaris Energy Infrastructure by 1.4% during the second quarter. California State Teachers Retirement System now owns 32,282 shares of the company’s stock valued at $913,000 after acquiring an additional 454 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Solaris Energy Infrastructure by 344.9% during the fourth quarter. Signaturefd LLC now owns 614 shares of the company’s stock valued at $28,000 after acquiring an additional 476 shares in the last quarter. 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.