Solaris Energy Infrastructure, Inc. (NYSE:SEI – Get Free Report)’s share price was down 9.8% during mid-day trading on Wednesday. The company traded as low as $70.03 and last traded at $70.18. Approximately 1,362,803 shares were traded during trading, a decline of 50% from the average daily volume of 2,738,424 shares. The stock had previously closed at $77.83.
Wall Street Analysts Forecast Growth
SEI has been the subject of several research reports. Wall Street Zen upgraded shares of Solaris Energy Infrastructure from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 3rd. Citigroup boosted their price target on Solaris Energy Infrastructure from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Needham & Company LLC increased their price target on shares of Solaris Energy Infrastructure from $98.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Raymond James Financial raised their target price on Solaris Energy Infrastructure from $82.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Finally, Zacks Research upgraded Solaris Energy Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $94.17.
Get Our Latest Stock Report on SEI
Solaris Energy Infrastructure Stock Performance
The company has a current ratio of 4.12, a quick ratio of 4.03 and a debt-to-equity ratio of 2.23. The firm has a market cap of $4.99 billion, a PE ratio of 76.66 and a beta of 1.28. The firm has a fifty day moving average price of $63.85 and a 200 day moving average price of $66.46.
Solaris Energy Infrastructure (NYSE:SEI – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.08. The business had revenue of $219.40 million during the quarter. Solaris Energy Infrastructure had a net margin of 7.19% and a return on equity of 13.26%. As a group, equities research analysts expect that Solaris Energy Infrastructure, Inc. will post 1.16 earnings per share for the current fiscal year.
Insider Activity
In related news, Director A. Teague acquired 3,900 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average cost of $64.21 per share, for a total transaction of $250,419.00. Following the acquisition, the director owned 116,865 shares in the company, valued at approximately $7,503,901.65. This represents a 3.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 20.23% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC raised its stake in shares of Solaris Energy Infrastructure by 215.1% in the 1st quarter. Jennison Associates LLC now owns 1,179,736 shares of the company’s stock valued at $66,667,000 after acquiring an additional 805,319 shares during the period. Situational Awareness LP lifted its holdings in shares of Solaris Energy Infrastructure by 2.2% in the 2nd quarter. Situational Awareness LP now owns 1,129,621 shares of the company’s stock worth $90,889,000 after acquiring an additional 24,070 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Solaris Energy Infrastructure by 19.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 871,462 shares of the company’s stock worth $49,239,000 after purchasing an additional 142,973 shares during the period. Two Seas Capital LP purchased a new position in shares of Solaris Energy Infrastructure during the 3rd quarter worth approximately $56,007,000. Finally, Ranger Investment Management L.P. purchased a new position in shares of Solaris Energy Infrastructure during the 2nd quarter worth approximately $46,967,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.
Solaris Energy Infrastructure Company Profile
Solaris Energy Infrastructure, Inc (NYSE: SEI) is an energy infrastructure company that develops, owns and operates mobile and distributed power-generation and energy-management systems. The company provides customers with reliable electricity and related infrastructure designed for applications that require flexible, scalable power capacity.
Solaris’ offerings have historically included natural gas-powered mobile generators, battery energy-storage systems, power distribution equipment and associated services.
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