Solaris Energy Infrastructure (NYSE:SEI) Trading Down 8.6% – Here’s Why

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) traded down 8.6% on Wednesday . The stock traded as low as $73.37 and last traded at $73.51. 450,816 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,587,356 shares. The stock had previously closed at $80.46.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SEI. Piper Sandler boosted their price objective on Solaris Energy Infrastructure from $65.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Northland Securities set a $104.00 target price on Solaris Energy Infrastructure in a research note on Friday, June 12th. Needham & Company LLC initiated coverage on Solaris Energy Infrastructure in a report on Monday. They issued a “buy” rating and a $97.00 target price for the company. Zacks Research raised Solaris Energy Infrastructure from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, Stifel Nicolaus increased their price target on Solaris Energy Infrastructure from $71.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.18.

Solaris Energy Infrastructure Price Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 1.11 and a quick ratio of 1.07. The business’s fifty day moving average price is $74.10 and its 200-day moving average price is $60.77. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 83.33 and a beta of 1.19.

Solaris Energy Infrastructure (NYSE:SEI) last posted its earnings results on Monday, April 27th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.18. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. The company had revenue of $196.24 million for the quarter. On average, research analysts forecast that Solaris Energy Infrastructure, Inc. will post 1.09 EPS for the current year.

Insider Activity

In other news, Director Laurie H. Argo sold 5,200 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $72.88, for a total value of $378,976.00. Following the completion of the sale, the director directly owned 44,839 shares of the company’s stock, valued at $3,267,866.32. This represents a 10.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher M. Powell sold 36,852 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were 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 owned 114,117 shares in the company, valued at $8,516,551.71. This represents a 24.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 4,099,593 shares of company stock worth $297,782,099. Company insiders own 20.23% of the company’s stock.

Institutional Trading of Solaris Energy Infrastructure

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Solaris Energy Infrastructure by 9.3% in the fourth quarter. Vanguard Group Inc. now owns 2,913,632 shares of the company’s stock valued at $133,940,000 after purchasing an additional 248,762 shares during the last quarter. Situational Awareness LP boosted its holdings in Solaris Energy Infrastructure by 62.3% during the fourth 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 last quarter. Principal Financial Group Inc. grew its position in Solaris Energy Infrastructure by 2,120.7% in the 4th 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 in the last quarter. Van ECK Associates Corp grew its position in Solaris Energy Infrastructure by 623.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,295,898 shares of the company’s stock worth $51,797,000 after purchasing an additional 1,116,794 shares in the last quarter. Finally, Advent International L.P. grew its position in Solaris Energy Infrastructure by 25.5% in the 4th quarter. Advent International L.P. now owns 1,263,809 shares of the company’s stock worth $58,097,000 after purchasing an additional 256,909 shares in the last quarter. Institutional investors own 67.44% of the company’s stock.

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.