Solaris Energy Infrastructure (NASDAQ:SEI) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Solaris Energy Infrastructure (NASDAQ:SEI) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

SEI has been the subject of a number of other research reports. Vertical Research initiated coverage on Solaris Energy Infrastructure in a research note on Wednesday, May 14th. They issued a “buy” rating and a $36.00 target price for the company. Janney Montgomery Scott began coverage on Solaris Energy Infrastructure in a research note on Tuesday, February 25th. They issued a “buy” rating and a $57.00 target price for the company. Citigroup began coverage on Solaris Energy Infrastructure in a research report on Thursday, May 22nd. They set a “buy” rating for the company. Northland Securities began coverage on Solaris Energy Infrastructure in a research report on Tuesday, April 22nd. They set an “outperform” rating and a $37.00 price target for the company. Finally, Northland Capmk raised Solaris Energy Infrastructure to a “strong-buy” rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $42.56.

Solaris Energy Infrastructure Trading Up 0.9%

NASDAQ SEI opened at $29.01 on Wednesday. Solaris Energy Infrastructure has a 1-year low of $10.96 and a 1-year high of $39.03. The company has a current ratio of 3.61, a quick ratio of 3.40 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average of $24.99 and a 200-day moving average of $25.87. The firm has a market cap of $1.96 billion, a PE ratio of 65.93 and a beta of 1.11.

Solaris Energy Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.65%. Solaris Energy Infrastructure’s dividend payout ratio (DPR) is 97.96%.

Insiders Place Their Bets

In other news, Director Aj Teague bought 1,000 shares of Solaris Energy Infrastructure stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $26.77 per share, for a total transaction of $26,770.00. Following the acquisition, the director now owns 98,459 shares of the company’s stock, valued at approximately $2,635,747.43. The trade was a 1.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William A. Zartler bought 10,000 shares of Solaris Energy Infrastructure stock in a transaction on Wednesday, May 21st. The shares were purchased at an average price of $21.78 per share, for a total transaction of $217,800.00. Following the acquisition, the chief executive officer now directly owns 1,039,227 shares in the company, valued at approximately $22,634,364.06. This trade represents a 0.97% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 12,000 shares of company stock worth $267,150. Company insiders own 21.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Solaris Energy Infrastructure in the 1st quarter worth approximately $435,000. Congress Asset Management Co. purchased a new stake in shares of Solaris Energy Infrastructure in the 1st quarter worth approximately $4,379,000. Retirement Planning Group LLC purchased a new stake in shares of Solaris Energy Infrastructure in the 1st quarter worth approximately $802,000. Assenagon Asset Management S.A. purchased a new stake in shares of Solaris Energy Infrastructure in the 1st quarter worth approximately $772,000. Finally, Rhumbline Advisers purchased a new stake in shares of Solaris Energy Infrastructure in the 1st quarter worth approximately $962,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Solaris Energy Infrastructure Company Profile

Solaris Energy Infrastructure, Inc is a holding company, which engages in the manufacture of patented mobile proppant management systems that unload, store, and deliver proppant to oil and natural gas well sites. Its products include Mobile Proppant and Mobile Chemical Management Systems, and Inventory Management Software.