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

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI) gapped up before the market opened on Monday . The stock had previously closed at $67.19, but opened at $71.36. Solaris Energy Infrastructure shares last traded at $70.46, with a volume of 773,396 shares traded.

Wall Street Analysts Forecast Growth

SEI has been the topic of several research reports. Needham & Company LLC assumed coverage on Solaris Energy Infrastructure in a research report on Monday, June 29th. They set a “buy” rating and a $97.00 price target on the stock. Barclays boosted their target price on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Raymond James Financial reissued an “outperform” rating and set a $82.00 target price on shares of Solaris Energy Infrastructure in a report on Wednesday, April 29th. Wolfe Research initiated coverage on shares of Solaris Energy Infrastructure in a research report on Monday. They issued an “outperform” rating and a $120.00 price target on the stock. Finally, Northland Securities set a $104.00 price target on shares of Solaris Energy Infrastructure in a report on Friday, June 12th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Solaris Energy Infrastructure currently has a consensus rating of “Moderate Buy” and an average target price of $86.25.

Solaris Energy Infrastructure Trading Down 3.3%

The business’s 50 day moving average price is $74.09 and its two-hundred day moving average price is $61.54. 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 market capitalization of $4.80 billion, a price-to-earnings ratio of 73.30 and a beta of 1.17.

Solaris Energy Infrastructure (NYSE:SEI) last announced its quarterly earnings data 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 during the quarter. Solaris Energy Infrastructure had a return on equity of 13.33% and a net margin of 6.69%. Equities analysts forecast that Solaris Energy Infrastructure, Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Christopher P. Wirtz sold 700 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $77.22, for a total transaction of $54,054.00. Following the completion of the transaction, the chief accounting officer owned 36,085 shares in the company, valued at approximately $2,786,483.70. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Laurie H. Argo sold 5,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $72.88, for a total transaction of $378,976.00. Following the completion of the sale, the director owned 44,839 shares in the company, valued at $3,267,866.32. The trade was a 10.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,099,593 shares of company stock worth $297,782,099 in the last ninety days. Insiders own 20.23% of the company’s stock.

Institutional Investors Weigh In On Solaris Energy Infrastructure

Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in Solaris Energy Infrastructure by 2,120.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company’s stock worth $67,408,000 after purchasing an additional 1,400,311 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Solaris Energy Infrastructure by 623.5% in the third quarter. Van ECK Associates Corp now owns 1,295,898 shares of the company’s stock worth $51,797,000 after buying an additional 1,116,794 shares during the period. Advent International L.P. acquired a new position in shares of Solaris Energy Infrastructure in the third quarter worth about $40,246,000. Value Aligned Research Advisors LLC purchased a new position in shares of Solaris Energy Infrastructure in the fourth quarter worth approximately $44,864,000. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Solaris Energy Infrastructure during the third quarter valued at approximately $35,050,000. 67.44% of the stock is owned by institutional investors.

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.