Solaris Energy Infrastructure (NYSE:SEI) Shares Up 8.4% – Here’s What Happened

Solaris Energy Infrastructure, Inc. (NYSE:SEI) rose 8.4% during mid-day trading on Monday . The company traded as high as $56.93 and last traded at $56.35. Approximately 1,115,913 shares traded hands during trading, a decline of 60% from the average daily volume of 2,797,361 shares. The stock had previously closed at $52.00.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SEI shares. Raymond James Financial reissued an “outperform” rating on shares of Solaris Energy Infrastructure in a research note on Tuesday, January 27th. Morgan Stanley initiated coverage on Solaris Energy Infrastructure in a research report on Tuesday, December 2nd. They set an “overweight” rating and a $68.00 target price on the stock. Northland Securities set a $70.00 price target on Solaris Energy Infrastructure in a research report on Monday, January 5th. Wall Street Zen cut Solaris Energy Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Barclays raised their price objective on Solaris Energy Infrastructure from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.10.

Solaris Energy Infrastructure Trading Up 8.1%

The company’s 50 day simple moving average is $52.72 and its two-hundred day simple moving average is $47.29. The company has a quick ratio of 2.87, a current ratio of 2.96 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 79.17 and a beta of 1.13.

Solaris Energy Infrastructure (NYSE:SEI) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Solaris Energy Infrastructure had a return on equity of 11.83% and a net margin of 4.81%.The business had revenue of $179.70 million for the quarter. As a group, research analysts anticipate that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Solaris Energy Infrastructure news, insider Cynthia M. Durrett sold 47,011 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $44.62, for a total value of $2,097,630.82. Following the completion of the sale, the insider owned 131,152 shares of the company’s stock, valued at approximately $5,852,002.24. This trade represents a 26.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aj Teague purchased 2,310 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were acquired at an average price of $43.13 per share, for a total transaction of $99,630.30. Following the purchase, the director directly owned 106,465 shares of the company’s stock, valued at approximately $4,591,835.45. The trade was a 2.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 21.20% of the company’s stock.

Institutional Trading of Solaris Energy Infrastructure

A number of institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in Solaris Energy Infrastructure by 179.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,194 shares of the company’s stock worth $101,000 after purchasing an additional 1,408 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Solaris Energy Infrastructure in the fourth quarter worth $10,591,000. Empowered Funds LLC acquired a new stake in shares of Solaris Energy Infrastructure during the fourth quarter worth $92,000. XTX Topco Ltd grew its holdings in shares of Solaris Energy Infrastructure by 169.3% during the fourth quarter. XTX Topco Ltd now owns 33,129 shares of the company’s stock valued at $1,523,000 after buying an additional 20,826 shares during the last quarter. Finally, Zacks Investment Management purchased a new stake in shares of Solaris Energy Infrastructure during the fourth quarter valued at $2,240,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

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.