Solaris Energy Infrastructure (NYSE:SEI) Sets New 12-Month High – Here’s Why

Solaris Energy Infrastructure, Inc. (NYSE:SEIGet Free Report)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $59.80 and last traded at $56.62, with a volume of 3059107 shares trading hands. The stock had previously closed at $54.96.

Wall Street Analyst Weigh In

SEI has been the subject of a number of research reports. Morgan Stanley initiated coverage on shares of Solaris Energy Infrastructure in a report on Tuesday, December 2nd. They issued an “overweight” rating and a $68.00 price objective for the company. Zacks Research downgraded Solaris Energy Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Solaris Energy Infrastructure in a research note on Monday, December 29th. Piper Sandler lifted their target price on shares of Solaris Energy Infrastructure from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Finally, Citigroup boosted their target price on shares of Solaris Energy Infrastructure from $38.00 to $56.00 and gave the company a “buy” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $55.11.

Check Out Our Latest Report on SEI

Solaris Energy Infrastructure Price Performance

The stock has a market capitalization of $3.88 billion, a P/E ratio of 60.23 and a beta of 1.12. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.28 and a current ratio of 2.39. The business has a fifty day simple moving average of $48.77 and a 200-day simple moving average of $41.43.

Solaris Energy Infrastructure (NYSE:SEIGet Free Report) last released its earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The company had revenue of $166.84 million for the quarter, compared to the consensus estimate of $142.82 million. Solaris Energy Infrastructure had a net margin of 7.02% and a return on equity of 9.38%. Sell-side analysts expect that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Amanda M. Brock purchased 3,669 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were acquired at an average cost of $40.89 per share, with a total value of $150,025.41. Following the purchase, the chief executive officer owned 141,080 shares in the company, valued at $5,768,761.20. This represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Aj Teague purchased 2,310 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was purchased at an average price of $43.13 per share, for a total transaction of $99,630.30. Following the acquisition, the director owned 106,465 shares of the company’s stock, valued at approximately $4,591,835.45. This represents a 2.22% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 2,164,094 shares of company stock valued at $108,255,773. Corporate insiders own 21.20% of the company’s stock.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of Solaris Energy Infrastructure by 344.9% in the 4th quarter. Signaturefd LLC now owns 614 shares of the company’s stock worth $28,000 after purchasing an additional 476 shares in the last quarter. Ascent Group LLC acquired a new position in Solaris Energy Infrastructure during the fourth quarter worth $203,000. SG Americas Securities LLC lifted its stake in shares of Solaris Energy Infrastructure by 1,441.9% in the fourth quarter. SG Americas Securities LLC now owns 206,130 shares of the company’s stock valued at $9,476,000 after buying an additional 192,761 shares in the last quarter. Farmers Trust Co. grew its holdings in shares of Solaris Energy Infrastructure by 3.2% during the fourth quarter. Farmers Trust Co. now owns 6,450 shares of the company’s stock valued at $297,000 after buying an additional 200 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Solaris Energy Infrastructure during the third quarter worth about $1,204,000. 67.44% of the stock is owned by institutional investors and hedge funds.

About Solaris Energy Infrastructure

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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.

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