Solaris Energy Infrastructure (NYSE:SEI) Stock Price Down 8.1% – Here’s What Happened

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) were down 8.1% on Tuesday . The company traded as low as $51.21 and last traded at $52.02. Approximately 1,932,646 shares were traded during trading, a decline of 31% from the average daily volume of 2,794,164 shares. The stock had previously closed at $56.63.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SEI shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Northland Securities set a $70.00 target price on Solaris Energy Infrastructure in a report on Monday, January 5th. UBS Group set a $65.00 target price on Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Morgan Stanley started coverage on Solaris Energy Infrastructure in a research report on Tuesday, December 2nd. They set an “overweight” rating and a $68.00 price target for the company. Finally, Piper Sandler upped their price target on shares of Solaris Energy Infrastructure from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Solaris Energy Infrastructure presently has an average rating of “Moderate Buy” and a consensus price target of $56.10.

Solaris Energy Infrastructure Trading Down 1.8%

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 50 day simple moving average of $50.72 and a two-hundred day simple moving average of $44.58. The firm has a market cap of $3.41 billion, a PE ratio of 53.05 and a beta of 1.14.

Insider Transactions at Solaris Energy Infrastructure

In other news, Director Laurie H. Argo sold 2,300 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $44.25, for a total value of $101,775.00. Following the sale, the director directly owned 50,039 shares in the company, valued at approximately $2,214,225.75. This trade represents a 4.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cynthia M. Durrett sold 47,011 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $44.62, for a total transaction of $2,097,630.82. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 21.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada purchased a new position in Solaris Energy Infrastructure during the 1st quarter valued at about $477,000. AQR Capital Management LLC acquired a new position in Solaris Energy Infrastructure during the first quarter valued at approximately $2,475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Solaris Energy Infrastructure in the first quarter worth $396,000. Goldman Sachs Group Inc. bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth approximately $13,714,000. Finally, Strs Ohio acquired a new position in shares of Solaris Energy Infrastructure in the first quarter valued at about $28,000. 67.44% of the stock is currently 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.