Solaris Energy Infrastructure (NYSE:SEI) Shares Down 8.5% – Time to Sell?

Solaris Energy Infrastructure, Inc. (NYSE:SEI)’s stock price was down 8.5% during trading on Thursday . The company traded as low as $61.34 and last traded at $61.42. Approximately 722,797 shares were traded during trading, a decline of 73% from the average session volume of 2,667,362 shares. The stock had previously closed at $67.10.

Wall Street Analysts Forecast Growth

SEI has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Solaris Energy Infrastructure from $71.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Needham & Company LLC began coverage on Solaris Energy Infrastructure in a report on Monday, June 29th. They set a “buy” rating and a $97.00 price objective for the company. Northland Securities set a $104.00 price objective on Solaris Energy Infrastructure in a research report on Friday, June 12th. Morgan Stanley boosted their target price on Solaris Energy Infrastructure from $81.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Finally, Stifel Nicolaus increased their price target on Solaris Energy Infrastructure from $71.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Solaris Energy Infrastructure currently has an average rating of “Moderate Buy” and an average price target of $86.25.

Solaris Energy Infrastructure Price Performance

The stock has a 50 day moving average of $72.91 and a 200-day moving average of $62.63. 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 company has a market cap of $4.43 billion, a PE ratio of 67.70 and a beta of 1.17.

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

Insider Buying and Selling at Solaris Energy Infrastructure

In other news, Director Ray N. Walker, Jr. sold 56,841 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $72.11, for a total value of $4,098,804.51. Following the sale, the director owned 5,760 shares in the company, valued at $415,353.60. This represents a 90.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Howard Keenan, Jr. sold 2,000,000 shares of the business’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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 4,099,593 shares of company stock worth $297,782,099. Insiders own 20.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Balefire LLC purchased a new position in Solaris Energy Infrastructure during the second quarter valued at $223,000. Wealth High Governance Asset Management Ltda. lifted its position in shares of Solaris Energy Infrastructure by 35.0% in the first quarter. Wealth High Governance Asset Management Ltda. now owns 104,336 shares of the company’s stock valued at $5,896,000 after acquiring an additional 27,066 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Solaris Energy Infrastructure by 15.8% in the first quarter. Glenmede Trust Co. NA now owns 16,987 shares of the company’s stock worth $960,000 after acquiring an additional 2,316 shares during the last quarter. Amundi raised its stake in Solaris Energy Infrastructure by 51.7% in the 1st quarter. Amundi now owns 8,497 shares of the company’s stock valued at $480,000 after purchasing an additional 2,895 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Solaris Energy Infrastructure by 24.2% in the 1st quarter. California State Teachers Retirement System now owns 51,791 shares of the company’s stock valued at $2,927,000 after purchasing an additional 10,083 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

About Solaris Energy Infrastructure

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.