Solaris Energy Infrastructure, Inc. (NYSE:SEI – Get Free Report) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $63.38 and traded as low as $54.90. Solaris Energy Infrastructure shares last traded at $57.42, with a volume of 8,375,907 shares.
Key Headlines Impacting Solaris Energy Infrastructure
Here are the key news stories impacting Solaris Energy Infrastructure this week:
- Positive Sentiment: SEI reported adjusted/pro forma Q3 EPS of $0.45, above the $0.22 Zacks consensus and the $0.29 FactSet estimate cited elsewhere. EPS also rose from $0.32 a year earlier. Revenue was $341.1 million, and adjusted EBITDA was $136 million. Zacks earnings report
- Positive Sentiment: The company announced additional power contracts and increased guidance, supporting its power-focused strategy and potentially improving its growth outlook. Company results and guidance announcement
- Positive Sentiment: Piper Sandler maintained its Buy rating, offering continued analyst support. Piper Sandler rating
- Neutral Sentiment: SEI traded lower during regular hours, but its results came after the close and a report noted an after-hours gain. The available articles do not identify a specific reason for the earlier decline. Yahoo Finance earnings and after-hours report
Analysts Set New Price Targets
SEI has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Solaris Energy Infrastructure from $90.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Piper Sandler increased their price objective on shares of Solaris Energy Infrastructure from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Zacks Research raised shares of Solaris Energy Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $104.00 target price on shares of Solaris Energy Infrastructure in a research report on Friday, October 30th. Finally, Northland Securities set a $111.00 price target on shares of Solaris Energy Infrastructure in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $94.08.
Get Our Latest Research Report on Solaris Energy Infrastructure
Solaris Energy Infrastructure Stock Performance
The company has a market cap of $4.40 billion, a P/E ratio of 67.55 and a beta of 1.40. The company has a quick ratio of 4.03, a current ratio of 4.12 and a debt-to-equity ratio of 2.23. The firm has a 50 day moving average of $65.63 and a 200-day moving average of $63.38.
Solaris Energy Infrastructure (NYSE:SEI – Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The business had revenue of $341.09 million for the quarter. Solaris Energy Infrastructure had a return on equity of 13.26% and a net margin of 7.19%. As a group, sell-side analysts anticipate that Solaris Energy Infrastructure, Inc. will post 1.42 EPS for the current fiscal year.
Insider Activity at Solaris Energy Infrastructure
In related news, Director A. Teague acquired 3,900 shares of the stock in a transaction on Tuesday, September 8th. The shares were acquired at an average price of $64.21 per share, for a total transaction of $250,419.00. Following the transaction, the director owned 116,865 shares in the company, valued at approximately $7,503,901.65. This trade represents a 3.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.23% of the stock is owned by insiders.
Institutional Investors Weigh In On Solaris Energy Infrastructure
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC grew its holdings in Solaris Energy Infrastructure by 4.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 7,114 shares of the company’s stock valued at $572,000 after buying an additional 300 shares in the last quarter. Balefire LLC increased its holdings in Solaris Energy Infrastructure by 12.3% in the 3rd quarter. Balefire LLC now owns 3,109 shares of the company’s stock valued at $221,000 after purchasing an additional 341 shares during the last quarter. Gibbs Wealth Management raised its holdings in shares of Solaris Energy Infrastructure by 7.3% in the 3rd quarter. Gibbs Wealth Management now owns 6,812 shares of the company’s stock valued at $485,000 after buying an additional 461 shares during the period. Parallel Advisors LLC increased its stake in Solaris Energy Infrastructure by 590.9% during the third quarter. Parallel Advisors LLC now owns 684 shares of the company’s stock worth $49,000 after purchasing an additional 585 shares during the period. Finally, Bosman Wealth Management LLC lifted its holdings in Solaris Energy Infrastructure by 18.2% during the 3rd quarter. Bosman Wealth Management LLC now owns 3,882 shares of the company’s stock worth $276,000 after buying an additional 598 shares in the last quarter. Institutional investors and hedge funds own 67.44% of the company’s stock.
Solaris Energy Infrastructure Company Profile
Solaris Energy Infrastructure, Inc provides infrastructure solutions for energy-intensive industries in North America. The company develops, deploys and operates power-generation and power-management systems designed to deliver reliable electricity to customers with substantial or specialized energy needs, including data centers and other high-demand facilities.
Solaris also provides logistics infrastructure and related services for the oil and natural gas industry. Its offerings have included mobile and fixed proppant-management systems, silo storage, transloading and last-mile delivery solutions used to transport and manage sand and other materials at wellsites.
Founded in 2014 as Solaris Oilfield Infrastructure, the company historically focused on improving the efficiency of oilfield logistics before expanding into broader energy infrastructure and power solutions.
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