Solaris Energy Infrastructure (NYSE:SEI) Stock Price Down 7.9% – Here’s What Happened

Solaris Energy Infrastructure, Inc. (NYSE:SEI) was down 7.9% during trading on Friday . The stock traded as low as $55.24 and last traded at $55.64. 1,362,919 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 2,671,429 shares. The stock had previously closed at $60.38.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of Solaris Energy Infrastructure from $71.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Citigroup boosted their price objective on shares of Solaris Energy Infrastructure from $61.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Northland Securities set a $104.00 price objective on shares of Solaris Energy Infrastructure in a research note on Friday, June 12th. Wolfe Research began coverage on shares of Solaris Energy Infrastructure in a report on Monday, July 6th. They set an “outperform” rating and a $120.00 target price for the company. Finally, Weiss Ratings cut Solaris Energy Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 17th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.25.

Solaris Energy Infrastructure Price Performance

The business has a 50 day moving average of $71.27 and a 200 day moving average of $63.12. The company has a market cap of $3.98 billion, a PE ratio of 60.83 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.11 and a quick ratio of 1.07.

Solaris Energy Infrastructure (NYSE:SEI) last released its quarterly earnings results on Monday, April 27th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.18. The business had revenue of $196.24 million for the quarter. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. As a group, research analysts predict that Solaris Energy Infrastructure, Inc. will post 1.01 EPS for the current year.

Insider Activity

In related news, Director Laurie H. Argo sold 5,200 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $72.88, for a total value of $378,976.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher M. Powell sold 36,852 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $74.63, for a total transaction of $2,750,264.76. Following the completion of the sale, the insider owned 114,117 shares of the company’s stock, valued at $8,516,551.71. This trade represents a 24.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 4,099,593 shares of company stock worth $297,782,099. 20.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SEI. Royal Bank of Canada bought a new position in shares of Solaris Energy Infrastructure in the 1st quarter worth approximately $477,000. AQR Capital Management LLC bought a new stake in shares of Solaris Energy Infrastructure during the first quarter valued at approximately $2,475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Solaris Energy Infrastructure during the first quarter valued at approximately $396,000. Goldman Sachs Group Inc. bought a new stake in shares of Solaris Energy Infrastructure during the first quarter valued at approximately $13,714,000. Finally, Strs Ohio purchased a new stake in Solaris Energy Infrastructure in the first quarter worth $28,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

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.