Solaris Energy Infrastructure (NYSE:SEI) Shares Up 14.7% – Time to Buy?

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) shot up 14.7% on Thursday . The company traded as high as $50.26 and last traded at $49.81. 826,502 shares changed hands during trading, a decline of 70% from the average session volume of 2,734,696 shares. The stock had previously closed at $43.42.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays raised their target price 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 increased their price objective on Solaris Energy Infrastructure from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Needham & Company LLC initiated coverage on Solaris Energy Infrastructure in a research report on Monday, June 29th. They set a “buy” rating and a $97.00 price objective for the company. Northland Securities set a $104.00 price objective on Solaris Energy Infrastructure in a research report on Friday, June 12th. Finally, Wolfe Research began coverage on shares of Solaris Energy Infrastructure in a report on Monday, July 6th. They set an “outperform” rating and a $120.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $86.25.

Solaris Energy Infrastructure Stock Performance

The firm has a market capitalization of $3.78 billion, a P/E ratio of 57.73 and a beta of 1.17. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 1.23. The business’s 50 day simple moving average is $68.91 and its two-hundred day simple moving average is $63.02.

Insider Transactions at Solaris Energy Infrastructure

In other news, insider Christopher M. Powell sold 36,852 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $74.63, for a total transaction of $2,750,264.76. Following the sale, the insider owned 114,117 shares in the company, valued at $8,516,551.71. This represents a 24.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director W Howard Keenan, Jr. sold 2,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $74.50, for a total transaction of $149,000,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,099,593 shares of company stock valued at $156,282,099. 20.23% of the stock is currently owned by insiders.

Institutional Trading of Solaris Energy Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of the business. Maxi Investments CY Ltd purchased a new stake in shares of Solaris Energy Infrastructure during the fourth quarter valued at $4,765,000. Situational Awareness LP raised its position in Solaris Energy Infrastructure by 62.3% in the 4th quarter. Situational Awareness LP now owns 1,866,500 shares of the company’s stock worth $85,803,000 after buying an additional 716,200 shares during the last quarter. Principal Financial Group Inc. raised its position in Solaris Energy Infrastructure by 2,120.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company’s stock worth $67,408,000 after buying an additional 1,400,311 shares during the last quarter. Dockside LLC bought a new position in Solaris Energy Infrastructure during the 4th quarter valued at about $3,803,000. Finally, Vanguard Group Inc. lifted its stake in Solaris Energy Infrastructure by 9.3% during the 4th quarter. Vanguard Group Inc. now owns 2,913,632 shares of the company’s stock valued at $133,940,000 after acquiring an additional 248,762 shares during the period. 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.