Solaris Energy Infrastructure (NYSE:SEI) Stock Jumps 5.1% – Here’s What Happened

Solaris Energy Infrastructure, Inc. (NYSE:SEI)’s share price shot up 5.1% on Monday. The company traded as high as $66.72 and last traded at $65.95. Approximately 693,074 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 2,765,995 shares. The stock had previously closed at $62.74.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen upgraded Solaris Energy Infrastructure from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 3rd. Wells Fargo & Company restated an “outperform” rating and set a $85.00 target price on shares of Solaris Energy Infrastructure in a research report on Friday, September 25th. Barclays upped their price target on Solaris Energy Infrastructure from $90.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, September 28th. Weiss Ratings lowered Solaris Energy Infrastructure from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Wolfe Research initiated coverage on Solaris Energy Infrastructure in a report on Monday, July 6th. They issued an “outperform” rating and a $120.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $94.17.

Solaris Energy Infrastructure Price Performance

The company has a debt-to-equity ratio of 2.23, a current ratio of 4.12 and a quick ratio of 4.03. The stock has a market cap of $5.06 billion, a P/E ratio of 77.73 and a beta of 1.28. The company’s 50 day simple moving average is $63.95 and its 200 day simple moving average is $66.53.

Solaris Energy Infrastructure (NYSE:SEI) last posted its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. Solaris Energy Infrastructure had a return on equity of 13.26% and a net margin of 7.19%. The firm had revenue of $219.40 million for the quarter. As a group, equities analysts forecast that Solaris Energy Infrastructure, Inc. will post 1.16 earnings per share for the current year.

Insider Buying and Selling at Solaris Energy Infrastructure

In related news, Director A. Teague acquired 3,900 shares of the stock in a transaction dated Tuesday, September 8th. The stock was bought at an average price of $64.21 per share, with a total value of $250,419.00. Following the completion of the transaction, the director directly owned 116,865 shares of the company’s stock, valued at approximately $7,503,901.65. The trade was a 3.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.23% of the stock is owned by company insiders.

Institutional Trading of Solaris Energy Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of SEI. Jennison Associates LLC lifted its holdings in shares of Solaris Energy Infrastructure by 215.1% in the first quarter. Jennison Associates LLC now owns 1,179,736 shares of the company’s stock valued at $66,667,000 after purchasing an additional 805,319 shares in the last quarter. Situational Awareness LP grew its holdings in shares of Solaris Energy Infrastructure by 2.2% during the second quarter. Situational Awareness LP now owns 1,129,621 shares of the company’s stock worth $90,889,000 after buying an additional 24,070 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Solaris Energy Infrastructure by 19.6% during the first quarter. Dimensional Fund Advisors LP now owns 871,462 shares of the company’s stock worth $49,239,000 after buying an additional 142,973 shares in the last quarter. Two Seas Capital LP bought a new position in shares of Solaris Energy Infrastructure during the third quarter worth about $56,007,000. Finally, Ranger Investment Management L.P. acquired a new stake in Solaris Energy Infrastructure in the 2nd quarter valued at approximately $46,967,000. Institutional investors and hedge funds 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.