Solaris Energy Infrastructure (NYSE:SEI) Trading Down 9.3% – Here’s What Happened

Solaris Energy Infrastructure, Inc. (NYSE:SEI) was down 9.3% on Monday . The company traded as low as $51.66 and last traded at $52.46. Approximately 1,792,891 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 2,864,279 shares. The stock had previously closed at $57.83.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company started coverage on Solaris Energy Infrastructure in a report on Friday, March 20th. They issued an “equal weight” rating and a $71.00 price objective on the stock. Barclays lifted their target price on Solaris Energy Infrastructure from $63.00 to $74.00 and gave the company an “overweight” rating in a research report on Tuesday, March 17th. Zacks Research upgraded shares of Solaris Energy Infrastructure from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 12th. Glj Research initiated coverage on shares of Solaris Energy Infrastructure in a research report on Thursday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Solaris Energy Infrastructure in a research note on Tuesday, December 2nd. They issued an “overweight” rating and a $68.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.36.

Solaris Energy Infrastructure Stock Performance

The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 78.07 and a beta of 1.13. The firm has a 50 day moving average price of $54.43 and a 200-day moving average price of $49.97. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.96 and a quick ratio of 2.87.

Solaris Energy Infrastructure (NYSE:SEI) last released its earnings results on Tuesday, February 24th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Solaris Energy Infrastructure had a return on equity of 11.83% and a net margin of 4.81%.The firm had revenue of $179.70 million during the quarter. As a group, sell-side analysts expect that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Solaris Energy Infrastructure

A number of large investors have recently made changes to their positions in SEI. Rockefeller Capital Management L.P. raised its holdings in Solaris Energy Infrastructure by 507.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,652 shares of the company’s stock valued at $76,000 after acquiring an additional 1,380 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Solaris Energy Infrastructure by 179.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,194 shares of the company’s stock worth $101,000 after acquiring an additional 1,408 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Solaris Energy Infrastructure during the 4th quarter worth approximately $10,591,000. Empowered Funds LLC purchased a new stake in shares of Solaris Energy Infrastructure in the 4th quarter valued at approximately $92,000. Finally, XTX Topco Ltd increased its position in shares of Solaris Energy Infrastructure by 169.3% in the 4th quarter. XTX Topco Ltd now owns 33,129 shares of the company’s stock valued at $1,523,000 after purchasing an additional 20,826 shares during the last quarter. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

About Solaris Energy Infrastructure

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.