Solaris Energy Infrastructure (NYSE:SEI) Stock Price Down 8.6% Following Analyst Downgrade

Solaris Energy Infrastructure, Inc. (NYSE:SEI) traded down 8.6% on Wednesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $73.37 and last traded at $73.51. Approximately 450,816 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 2,587,356 shares. The stock had previously closed at $80.46.

Several other research analysts have also commented on the stock. Barclays raised their price target on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Needham & Company LLC started coverage on shares of Solaris Energy Infrastructure in a research report on Monday. They issued a “buy” rating and a $97.00 price objective for the company. Piper Sandler raised their target price on shares of Solaris Energy Infrastructure from $65.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Northland Securities set a $104.00 target price on shares of Solaris Energy Infrastructure in a report on Friday, June 12th. Finally, Glj Research assumed coverage on shares of Solaris Energy Infrastructure in a research report on Thursday, March 5th. They set a “buy” rating and a $60.00 price target for the company. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.18.

Insider Transactions at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, Director Laurie H. Argo sold 5,200 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $72.88, for a total value of $378,976.00. Following the completion of the sale, the director owned 44,839 shares of the company’s stock, valued at $3,267,866.32. This trade represents a 10.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher M. Powell sold 36,852 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $74.63, for a total transaction of $2,750,264.76. Following the transaction, the insider directly owned 114,117 shares in the company, valued at approximately $8,516,551.71. The trade was a 24.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,099,593 shares of company stock worth $297,782,099 over the last 90 days. 20.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Solaris Energy Infrastructure

A number of institutional investors have recently added to or reduced their stakes in SEI. Wealth High Governance Asset Management Ltda. grew its stake in shares of Solaris Energy Infrastructure by 35.0% during the first quarter. Wealth High Governance Asset Management Ltda. now owns 104,336 shares of the company’s stock valued at $5,896,000 after acquiring an additional 27,066 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Solaris Energy Infrastructure by 15.8% in the first quarter. Glenmede Trust Co. NA now owns 16,987 shares of the company’s stock worth $960,000 after acquiring an additional 2,316 shares in the last quarter. Amundi lifted its stake in shares of Solaris Energy Infrastructure by 51.7% in the first quarter. Amundi now owns 8,497 shares of the company’s stock worth $480,000 after acquiring an additional 2,895 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Solaris Energy Infrastructure by 24.2% in the first quarter. California State Teachers Retirement System now owns 51,791 shares of the company’s stock valued at $2,927,000 after purchasing an additional 10,083 shares during the last quarter. Finally, Rokos Capital Management LLP purchased a new position in Solaris Energy Infrastructure in the first quarter valued at about $1,900,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Solaris Energy Infrastructure Trading Down 9.1%

The business has a 50 day simple moving average of $74.30 and a two-hundred day simple moving average of $61.05. 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 stock has a market cap of $4.91 billion, a price-to-earnings ratio of 74.96 and a beta of 1.17.

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

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.