Solaris Energy Infrastructure (NYSE:SEI) Releases Earnings Results

Solaris Energy Infrastructure (NYSE:SEI) issued its earnings results on Monday. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08, Zacks reports. The company had revenue of $166.84 million for the quarter, compared to analyst estimates of $142.82 million. Solaris Energy Infrastructure had a return on equity of 9.89% and a net margin of 7.02%.

Solaris Energy Infrastructure Trading Down 2.9%

Solaris Energy Infrastructure stock traded down $1.57 during trading hours on Wednesday, reaching $52.14. The company had a trading volume of 1,228,299 shares, compared to its average volume of 1,969,872. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.11 and a quick ratio of 2.98. The company has a 50-day moving average price of $41.27 and a 200 day moving average price of $32.28. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 55.47 and a beta of 1.12. Solaris Energy Infrastructure has a 12-month low of $14.27 and a 12-month high of $57.17.

Insiders Place Their Bets

In related news, Director Edgar R. Jr. Giesinger sold 10,000 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $28.86, for a total transaction of $288,600.00. Following the sale, the director directly owned 90,956 shares in the company, valued at $2,624,990.16. The trade was a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kyle S. Ramachandran purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the chief financial officer directly owned 370,338 shares of the company’s stock, valued at $9,258,450. This represents a 0.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 21.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Goodlander Investment Management LLC bought a new position in shares of Solaris Energy Infrastructure during the second quarter valued at $19,803,000. Honeycomb Asset Management LP bought a new position in shares of Solaris Energy Infrastructure during the second quarter valued at $19,011,000. Goldman Sachs Group Inc. bought a new position in shares of Solaris Energy Infrastructure during the first quarter valued at $13,714,000. Squarepoint Ops LLC lifted its holdings in shares of Solaris Energy Infrastructure by 231.1% during the second quarter. Squarepoint Ops LLC now owns 259,248 shares of the company’s stock valued at $7,334,000 after purchasing an additional 180,957 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Solaris Energy Infrastructure by 115.8% during the second quarter. Bank of America Corp DE now owns 253,785 shares of the company’s stock valued at $7,180,000 after purchasing an additional 136,161 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Northland Securities set a $61.00 target price on Solaris Energy Infrastructure in a research note on Thursday, October 9th. Piper Sandler cut their price target on Solaris Energy Infrastructure from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Citigroup raised their target price on Solaris Energy Infrastructure from $38.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Zacks Research upgraded Solaris Energy Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Wall Street Zen upgraded Solaris Energy Infrastructure from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $47.56.

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.