Solaris Energy Infrastructure (NYSE:SEI) Stock Price Down 8.6% – Here’s Why

Solaris Energy Infrastructure, Inc. (NYSE:SEI) shares fell 8.6% on Wednesday . The stock traded as low as $73.37 and last traded at $73.51. Approximately 450,816 shares changed hands during trading, a decline of 83% from the average session volume of 2,587,356 shares. The stock had previously closed at $80.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SEI shares. Barclays increased their price objective on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Citigroup upped their price target on shares of Solaris Energy Infrastructure from $61.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of Solaris Energy Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Zacks Research upgraded shares of Solaris Energy Infrastructure from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 12th. Finally, Northland Securities set a $104.00 target price on Solaris Energy Infrastructure in a research note on Friday, June 12th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

Solaris Energy Infrastructure Stock Performance

The company has a market cap of $5.45 billion, a price-to-earnings ratio of 83.33 and a beta of 1.19. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.07 and a current ratio of 1.11. The company has a fifty day moving average of $74.10 and a two-hundred day moving average of $60.77.

Solaris Energy Infrastructure (NYSE:SEI) last issued its quarterly earnings data on Monday, April 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.18. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. The business had revenue of $196.24 million during the quarter. Equities research analysts anticipate that Solaris Energy Infrastructure, Inc. will post 1.09 EPS for the current year.

Insider Activity

In related news, insider Christopher M. Powell sold 36,852 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $74.63, for a total value of $2,750,264.76. Following the completion of the sale, the insider directly owned 114,117 shares in the company, valued at $8,516,551.71. This represents a 24.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray N. Walker, Jr. sold 56,841 shares of Solaris Energy Infrastructure stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $72.11, for a total value of $4,098,804.51. Following the transaction, the director directly owned 5,760 shares in the company, valued at $415,353.60. The trade was a 90.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,099,593 shares of company stock valued at $297,782,099. 20.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Solaris Energy Infrastructure

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