Solaris Energy Infrastructure (NYSE:SEI) Trading 9.8% Higher – Here’s Why

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) were up 9.8% during mid-day trading on Tuesday . The stock traded as high as $54.82 and last traded at $54.31. Approximately 3,046,630 shares traded hands during trading, an increase of 7% from the average daily volume of 2,856,492 shares. The stock had previously closed at $49.45.

Analyst Ratings Changes

Several research firms have recently commented on SEI. UBS Group set a $65.00 price target on shares of Solaris Energy Infrastructure in a research report on Tuesday, January 27th. Glj Research initiated coverage on Solaris Energy Infrastructure in a research note on Thursday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. Zacks Research lowered shares of Solaris Energy Infrastructure from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Piper Sandler raised their target price on shares of Solaris Energy Infrastructure from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Solaris Energy Infrastructure in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.10.

Solaris Energy Infrastructure Price Performance

The company has a quick ratio of 2.87, a current ratio of 2.96 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 75.54 and a beta of 1.13. The business has a 50-day simple moving average of $52.54 and a two-hundred day simple moving average of $46.84.

Solaris Energy Infrastructure (NYSE:SEI) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Solaris Energy Infrastructure had a return on equity of 11.83% and a net margin of 4.81%.The company had revenue of $179.70 million during the quarter. As a group, research analysts predict that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at Solaris Energy Infrastructure

In other news, insider Cynthia M. Durrett sold 47,011 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $44.62, for a total transaction of $2,097,630.82. Following the completion of the transaction, the insider directly owned 131,152 shares of the company’s stock, valued at approximately $5,852,002.24. This trade represents a 26.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aj Teague bought 2,310 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was bought at an average cost of $43.13 per share, with a total value of $99,630.30. Following the completion of the acquisition, the director owned 106,465 shares in the company, valued at $4,591,835.45. This represents a 2.22% increase in their position. The SEC filing for this purchase provides additional information. 21.20% of the stock is owned by company insiders.

Institutional Trading of Solaris Energy Infrastructure

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Solaris Energy Infrastructure by 9.3% in 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 in the last quarter. Situational Awareness LP grew its holdings in Solaris Energy Infrastructure by 62.3% during the fourth quarter. Situational Awareness LP now owns 1,866,500 shares of the company’s stock worth $85,803,000 after purchasing an additional 716,200 shares during the period. Westwood Holdings Group Inc. lifted its holdings in Solaris Energy Infrastructure by 11.8% during 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 during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Solaris Energy Infrastructure by 2,120.7% during 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 period. Finally, Van ECK Associates Corp grew its position in shares of Solaris Energy Infrastructure by 623.5% in the third quarter. Van ECK Associates Corp now owns 1,295,898 shares of the company’s stock valued at $51,797,000 after purchasing an additional 1,116,794 shares during the last quarter. 67.44% of the stock is currently owned by institutional investors and hedge funds.

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.