Solaris Energy Infrastructure (NYSE:SEI) Stock Falls 5.3% – Here’s What Happened

Solaris Energy Infrastructure, Inc. (NYSE:SEI)’s share price was down 5.3% during trading on Tuesday. The stock traded as low as $61.85 and last traded at $62.26. 187,037 shares were traded during trading, a decline of 93% from the average daily volume of 2,766,710 shares. The stock had previously closed at $65.76.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC upped their target price on Solaris Energy Infrastructure from $98.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Barclays lifted their price target on Solaris Energy Infrastructure from $90.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 28th. Wall Street Zen upgraded Solaris Energy Infrastructure from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 3rd. Piper Sandler boosted their price objective on Solaris Energy Infrastructure from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Finally, Weiss Ratings lowered Solaris Energy Infrastructure from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $95.17.

Solaris Energy Infrastructure Price Performance

The firm’s 50-day moving average is $64.31 and its 200-day moving average is $66.75. The company has a market capitalization of $5.30 billion, a PE ratio of 81.38 and a beta of 1.28. The company has a quick ratio of 4.03, a current ratio of 4.12 and a debt-to-equity ratio of 2.23.

Solaris Energy Infrastructure (NYSE:SEI) last released its earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. Solaris Energy Infrastructure had a return on equity of 13.26% and a net margin of 7.19%. The business had revenue of $219.40 million for the quarter. Equities analysts predict that Solaris Energy Infrastructure, Inc. will post 1.16 earnings per share for the current fiscal year.

Insider Activity

In other news, Director A. Teague acquired 3,900 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was purchased at an average cost of $64.21 per share, for a total transaction of $250,419.00. Following the acquisition, the director owned 116,865 shares of the company’s stock, valued at $7,503,901.65. This trade represents a 3.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 20.23% of the company’s stock.

Hedge Funds Weigh In On Solaris Energy Infrastructure

A number of large investors have recently modified their holdings of the company. Jennison Associates LLC lifted its position in Solaris Energy Infrastructure by 215.1% in the 1st quarter. Jennison Associates LLC now owns 1,179,736 shares of the company’s stock worth $66,667,000 after buying an additional 805,319 shares during the last quarter. Two Seas Capital LP bought a new position in Solaris Energy Infrastructure during the third quarter valued at approximately $56,007,000. Ranger Investment Management L.P. bought a new position in Solaris Energy Infrastructure during the second quarter valued at approximately $46,967,000. Bank of New York Mellon Corp bought a new position in Solaris Energy Infrastructure during the second quarter valued at approximately $30,881,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Solaris Energy Infrastructure by 536.1% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 388,000 shares of the company’s stock worth $21,926,000 after acquiring an additional 327,000 shares in the last quarter. 67.44% of the stock is owned by hedge funds and other institutional investors.

Solaris Energy Infrastructure Company Profile

Solaris Energy Infrastructure, Inc provides infrastructure solutions for energy-intensive industries in North America. The company develops, deploys and operates power-generation and power-management systems designed to deliver reliable electricity to customers with substantial or specialized energy needs, including data centers and other high-demand facilities.

Solaris also provides logistics infrastructure and related services for the oil and natural gas industry. Its offerings have included mobile and fixed proppant-management systems, silo storage, transloading and last-mile delivery solutions used to transport and manage sand and other materials at wellsites.

Founded in 2014 as Solaris Oilfield Infrastructure, the company historically focused on improving the efficiency of oilfield logistics before expanding into broader energy infrastructure and power solutions.