Solaris Energy Infrastructure (NYSE:SEI) Shares Gap Up – Here’s Why

Solaris Energy Infrastructure, Inc. (NYSE:SEI)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $48.81, but opened at $52.00. Solaris Energy Infrastructure shares last traded at $52.43, with a volume of 924,710 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on Solaris Energy Infrastructure from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Barclays raised their target price on Solaris Energy Infrastructure from $44.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Northland Securities set a $61.00 price objective on shares of Solaris Energy Infrastructure in a research report on Thursday, October 9th. Morgan Stanley set a $68.00 target price on shares of Solaris Energy Infrastructure and gave the company an “overweight” rating in a research report on Tuesday. Finally, Citigroup lifted their price target on shares of Solaris Energy Infrastructure from $38.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Solaris Energy Infrastructure currently has a consensus rating of “Buy” and an average target price of $52.80.

Solaris Energy Infrastructure Stock Performance

The business has a fifty day moving average of $47.42 and a 200-day moving average of $35.72. The company has a market cap of $3.39 billion, a PE ratio of 52.76 and a beta of 1.14. The company has a current ratio of 2.39, a quick ratio of 2.28 and a debt-to-equity ratio of 0.69.

Solaris Energy Infrastructure (NYSE:SEI) last posted its earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.08. The firm had revenue of $166.84 million for the quarter, compared to analysts’ expectations of $142.82 million. Solaris Energy Infrastructure had a return on equity of 9.38% and a net margin of 7.02%. Equities research analysts anticipate that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Solaris Energy Infrastructure

In other news, major shareholder Ktr Management Company, Llc sold 2,114,783 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $50.15, for a total transaction of $106,056,367.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kyle S. Ramachandran bought 2,000 shares of the stock in a transaction on Tuesday, September 9th. The shares were bought at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the purchase, the chief financial officer directly owned 370,338 shares in the company, valued at approximately $9,258,450. This trade represents a 0.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 21.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Solaris Energy Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Encompass Capital Advisors LLC bought a new position in Solaris Energy Infrastructure in the first quarter worth approximately $78,967,000. Driehaus Capital Management LLC purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter valued at about $44,073,000. Vanguard Group Inc. bought a new position in shares of Solaris Energy Infrastructure in the first quarter worth approximately $35,060,000. Westwood Holdings Group Inc. bought a new stake in Solaris Energy Infrastructure during the first quarter valued at about $29,298,000. Finally, Millennium Management LLC bought a new position in Solaris Energy Infrastructure in the 1st quarter worth approximately $24,335,000. 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.