Solaris Energy Infrastructure (NYSE:SEI) Shares Down 8.2% – Here’s Why

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) were down 8.2% during trading on Wednesday . The company traded as low as $56.03 and last traded at $56.85. Approximately 581,737 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 2,750,961 shares. The stock had previously closed at $61.94.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SEI. Needham & Company LLC lifted their target price on Solaris Energy Infrastructure from $97.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Citigroup lifted their price target on Solaris Energy Infrastructure from $61.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Stifel Nicolaus set a $98.00 price target on Solaris Energy Infrastructure in a report on Friday, August 7th. Wall Street Zen cut Solaris Energy Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Wolfe Research assumed coverage on Solaris Energy Infrastructure in a report on Monday, July 6th. They set an “outperform” rating and a $120.00 price objective for the company. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.33.

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 firm has a market cap of $4.41 billion, a P/E ratio of 67.72 and a beta of 1.23. The company’s 50-day moving average is $66.04 and its two-hundred day moving average is $63.51.

Solaris Energy Infrastructure (NYSE:SEI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. The company had revenue of $219.40 million for the quarter. Solaris Energy Infrastructure had a net margin of 7.19% and a return on equity of 13.26%. Sell-side analysts anticipate that Solaris Energy Infrastructure, Inc. will post 0.9 EPS for the current fiscal year.

Institutional Trading of Solaris Energy Infrastructure

Several hedge funds have recently bought and sold shares of SEI. Creative Financial Designs Inc. ADV raised its holdings in Solaris Energy Infrastructure by 5.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,920 shares of the company’s stock valued at $180,000 after buying an additional 205 shares during the last quarter. Legal & General Group Plc boosted its stake in Solaris Energy Infrastructure by 1.1% during the third quarter. Legal & General Group Plc now owns 36,698 shares of the company’s stock worth $1,467,000 after acquiring an additional 391 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Solaris Energy Infrastructure by 3.3% in the 2nd quarter. Cerity Partners LLC now owns 12,551 shares of the company’s stock worth $355,000 after buying an additional 397 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Solaris Energy Infrastructure by 1.4% during the second quarter. California State Teachers Retirement System now owns 32,282 shares of the company’s stock valued at $913,000 after acquiring an additional 454 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Solaris Energy Infrastructure by 44.2% in the third quarter. Quarry LP now owns 1,814 shares of the company’s stock worth $73,000 after buying an additional 556 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 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.