Solaris Energy Infrastructure (NYSE:SEI) Sets New 1-Year High – Here’s What Happened

Solaris Energy Infrastructure, Inc. (NYSE:SEI)’s share price hit a new 52-week high on Friday . The company traded as high as $57.31 and last traded at $55.64, with a volume of 4059609 shares changing hands. The stock had previously closed at $52.02.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Solaris Energy Infrastructure from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Solaris Energy Infrastructure in a research report on Monday, December 29th. Morgan Stanley started coverage on Solaris Energy Infrastructure in a report on Tuesday, December 2nd. They issued an “overweight” rating and a $68.00 target price on the stock. Zacks Research cut Solaris Energy Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Citigroup boosted their price target on Solaris Energy Infrastructure from $38.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $53.70.

Solaris Energy Infrastructure Stock Up 7.0%

The company has a quick ratio of 2.28, a current ratio of 2.39 and a debt-to-equity ratio of 0.69. The company has a fifty day simple moving average of $48.23 and a 200-day simple moving average of $40.64. The firm has a market cap of $3.81 billion, a P/E ratio of 59.19 and a beta of 1.12.

Solaris Energy Infrastructure (NYSE:SEI) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The firm had revenue of $166.84 million for the quarter, compared to analysts’ expectations of $142.82 million. Solaris Energy Infrastructure had a return on equity of 9.38% and a net margin of 7.02%. On average, equities analysts anticipate that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current year.

Insider Transactions at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, Director Aj Teague purchased 2,310 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were acquired 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 directly owned 106,465 shares in the company, valued at $4,591,835.45. The trade was a 2.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Amanda M. Brock acquired 3,669 shares of the stock in a transaction dated Wednesday, December 17th. The stock was acquired at an average price of $40.89 per share, for a total transaction of $150,025.41. Following the completion of the transaction, the chief executive officer directly owned 141,080 shares of the company’s stock, valued at approximately $5,768,761.20. This represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 2,164,094 shares of company stock valued at $108,255,773. Company insiders own 21.20% of the company’s stock.

Institutional Trading of Solaris Energy Infrastructure

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEI. Caitong International Asset Management Co. Ltd bought a new position in Solaris Energy Infrastructure in the 3rd quarter worth approximately $31,000. Assetmark Inc. purchased a new position in shares of Solaris Energy Infrastructure in the second quarter worth $25,000. Larson Financial Group LLC boosted its position in shares of Solaris Energy Infrastructure by 363.0% during the third quarter. Larson Financial Group LLC now owns 1,014 shares of the company’s stock worth $41,000 after acquiring an additional 795 shares during the last quarter. Chung Wu Investment Group LLC purchased a new position in Solaris Energy Infrastructure during the third quarter valued at $52,000. Finally, Strs Ohio bought a new stake 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 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.