Solaris Energy Infrastructure (NASDAQ:SEI) Stock Price Down 9.6% – Here’s What Happened

Shares of Solaris Energy Infrastructure, Inc. (NASDAQ:SEI) traded down 9.6% during mid-day trading on Monday . The stock traded as low as $17.20 and last traded at $17.23. 415,256 shares changed hands during trading, a decline of 71% from the average session volume of 1,413,899 shares. The stock had previously closed at $19.05.

Analyst Upgrades and Downgrades

SEI has been the topic of several research reports. Janney Montgomery Scott initiated coverage on Solaris Energy Infrastructure in a report on Tuesday, February 25th. They issued a “buy” rating and a $57.00 target price on the stock. Tudor Pickering raised shares of Solaris Energy Infrastructure to a “strong-buy” rating in a research note on Wednesday, January 22nd. Tudor, Pickering, Holt & Co. began coverage on shares of Solaris Energy Infrastructure in a report on Wednesday, January 22nd. They set a “buy” rating and a $41.00 price target for the company. Piper Sandler started coverage on Solaris Energy Infrastructure in a report on Thursday, February 20th. They issued an “overweight” rating and a $37.00 price target for the company. Finally, Stifel Nicolaus lifted their price objective on Solaris Energy Infrastructure from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Solaris Energy Infrastructure presently has an average rating of “Buy” and a consensus price target of $45.75.

Solaris Energy Infrastructure Stock Performance

The firm has a fifty day moving average price of $24.01. The company has a current ratio of 3.61, a quick ratio of 3.40 and a debt-to-equity ratio of 0.77. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 39.96 and a beta of 1.12.

Solaris Energy Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.73%. The ex-dividend date was Tuesday, March 11th. Solaris Energy Infrastructure’s dividend payout ratio (DPR) is presently 97.96%.

Insiders Place Their Bets

In other Solaris Energy Infrastructure news, Director Laurie H. Argo purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $22.43 per share, with a total value of $89,720.00. Following the acquisition, the director now owns 46,064 shares of the company’s stock, valued at approximately $1,033,215.52. This represents a 9.51 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 21.20% of the stock is owned by company insiders.

Institutional Trading of Solaris Energy Infrastructure

Several hedge funds have recently made changes to their positions in the stock. Congress Asset Management Co. bought a new stake in Solaris Energy Infrastructure in the first quarter valued at $4,379,000. Ritholtz Wealth Management bought a new stake in Solaris Energy Infrastructure in the 1st quarter valued at about $2,784,000. Rhumbline Advisers acquired a new position in Solaris Energy Infrastructure during the 1st quarter valued at about $962,000. Retirement Planning Group LLC bought a new stake in shares of Solaris Energy Infrastructure during the first quarter valued at approximately $802,000. Finally, Assenagon Asset Management S.A. bought a new position in Solaris Energy Infrastructure in the 1st quarter worth approximately $772,000. Institutional investors own 67.44% of the company’s stock.

Solaris Energy Infrastructure Company Profile

Solaris Energy Infrastructure, Inc is a holding company, which engages in the manufacture of patented mobile proppant management systems that unload, store, and deliver proppant to oil and natural gas well sites. Its products include Mobile Proppant and Mobile Chemical Management Systems, and Inventory Management Software.