Needham & Company LLC Forecasts Strong Price Appreciation for Solaris Energy Infrastructure (NYSE:SEI) Stock

Solaris Energy Infrastructure (NYSE:SEI) had its price target increased by equities researchers at Needham & Company LLC from $97.00 to $98.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 68.73% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on SEI. Piper Sandler lifted their target price on Solaris Energy Infrastructure from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Weiss Ratings downgraded shares of Solaris Energy Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 17th. Wells Fargo & Company upgraded shares of Solaris Energy Infrastructure from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $82.00 to $73.00 in a research note on Monday. Wolfe Research began coverage on shares of Solaris Energy Infrastructure in a research report on Monday, July 6th. They set an “outperform” rating and a $120.00 target price on the stock. Finally, Barclays raised their price target on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.58.

Solaris Energy Infrastructure Stock Performance

Solaris Energy Infrastructure stock opened at $58.08 on Friday. The business has a 50 day moving average of $67.64 and a 200-day moving average of $63.17. The company has a market capitalization of $4.27 billion, a P/E ratio of 68.33 and a beta of 1.23. Solaris Energy Infrastructure has a 1 year low of $24.57 and a 1 year high of $86.19. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.11 and a quick ratio of 1.07.

Solaris Energy Infrastructure (NYSE:SEI) last released its quarterly 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. The firm had revenue of $219.40 million for the quarter. Solaris Energy Infrastructure had a return on equity of 14.08% and a net margin of 7.19%. On average, equities research analysts predict that Solaris Energy Infrastructure will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Christopher M. Powell sold 36,852 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $74.63, for a total value of $2,750,264.76. Following the completion of the transaction, the insider directly owned 114,117 shares in the company, valued at approximately $8,516,551.71. This represents a 24.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher P. Wirtz sold 700 shares of Solaris Energy Infrastructure stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $77.22, for a total transaction of $54,054.00. Following the completion of the transaction, the chief accounting officer owned 36,085 shares in the company, valued at approximately $2,786,483.70. The trade was a 1.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 42,752 shares of company stock valued at $3,183,295. Company insiders own 20.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Solaris Energy Infrastructure by 2,120.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company’s stock worth $67,408,000 after purchasing an additional 1,400,311 shares during the period. Value Aligned Research Advisors LLC bought a new position in Solaris Energy Infrastructure in the fourth quarter worth approximately $44,864,000. Jennison Associates LLC grew its stake in shares of Solaris Energy Infrastructure by 215.1% during the 1st quarter. Jennison Associates LLC now owns 1,179,736 shares of the company’s stock valued at $66,667,000 after acquiring an additional 805,319 shares during the period. Valiant Capital Management L.P. purchased a new stake in shares of Solaris Energy Infrastructure in the fourth quarter worth $33,765,000. Finally, Situational Awareness LP boosted its stake in Solaris Energy Infrastructure by 62.3% in the 4th quarter. Situational Awareness LP now owns 1,866,500 shares of the company’s stock worth $85,803,000 after purchasing an additional 716,200 shares during the period. 67.44% of the stock is currently owned by institutional investors.

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.