Solaris Energy Infrastructure (NYSE:SEI) Trading Down 8.6% on Analyst Downgrade

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

Several other research analysts have also weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 target price on shares of Solaris Energy Infrastructure in a research report on Wednesday, April 29th. Piper Sandler boosted their price target on 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 price objective on Solaris Energy Infrastructure in a report on Friday, June 12th. Needham & Company LLC started coverage on shares of Solaris Energy Infrastructure in a research report on Monday. They set a “buy” rating and a $97.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on shares of Solaris Energy Infrastructure from $71.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.18.

Insider Activity at Solaris Energy Infrastructure

In other news, Director Ray N. Walker, Jr. sold 56,841 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $72.11, for a total transaction of $4,098,804.51. Following the transaction, the director owned 5,760 shares of the company’s stock, valued at approximately $415,353.60. This represents a 90.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director W Howard Keenan, Jr. sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $74.50, for a total value of $149,000,000.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 4,099,593 shares of company stock valued at $297,782,099. Insiders own 20.23% of the company’s stock.

Institutional Investors Weigh In On Solaris Energy Infrastructure

A number of large investors have recently added to or reduced their stakes in SEI. Royal Bank of Canada bought a new position in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $477,000. AQR Capital Management LLC acquired a new stake in shares of Solaris Energy Infrastructure in the first quarter worth $2,475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth $396,000. Goldman Sachs Group Inc. bought a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth $13,714,000. Finally, Strs Ohio acquired a new position in Solaris Energy Infrastructure in the 1st quarter valued at $28,000. Institutional investors own 67.44% of the company’s stock.

Solaris Energy Infrastructure Stock Down 9.1%

The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 74.96 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.07 and a current ratio of 1.11. The business’s 50 day moving average is $74.30 and its 200-day moving average is $61.05.

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