Needham & Company LLC Reaffirms Buy Rating for Solaris Energy Infrastructure (NYSE:SEI)

Solaris Energy Infrastructure (NYSE:SEI)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They currently have a $104.00 price objective on the stock. Needham & Company LLC‘s price target suggests a potential upside of 50.92% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company decreased their target price on shares of Solaris Energy Infrastructure from $85.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday. Weiss Ratings downgraded shares of Solaris Energy Infrastructure from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Northland Securities set a $111.00 price target on shares of Solaris Energy Infrastructure in a report on Wednesday, September 16th. Stifel Nicolaus raised their price objective on shares of Solaris Energy Infrastructure from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Finally, Morgan Stanley boosted their price objective on shares of Solaris Energy Infrastructure from $90.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Solaris Energy Infrastructure currently has a consensus rating of “Buy” and an average target price of $94.08.

Solaris Energy Infrastructure Stock Down 0.1%

Solaris Energy Infrastructure stock opened at $68.91 on Friday. The company has a debt-to-equity ratio of 2.23, a current ratio of 4.12 and a quick ratio of 4.03. Solaris Energy Infrastructure has a 1-year low of $38.50 and a 1-year high of $86.19. The company has a market cap of $5.28 billion, a PE ratio of 81.07 and a beta of 1.28. The stock’s 50 day moving average price is $64.67 and its 200 day moving average price is $63.13.

Solaris Energy Infrastructure (NYSE:SEI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. The firm had revenue of $219.40 million for the quarter. Solaris Energy Infrastructure had a return on equity of 13.26% and a net margin of 7.19%. On average, sell-side analysts predict that Solaris Energy Infrastructure will post 1.42 EPS for the current fiscal year.

Insider Transactions at Solaris Energy Infrastructure

In other news, Director A. Teague bought 3,900 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were bought at an average cost of $64.21 per share, for a total transaction of $250,419.00. Following the completion of the transaction, the director owned 116,865 shares in the company, valued at $7,503,901.65. This trade represents a 3.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 20.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC boosted its position in shares of Solaris Energy Infrastructure by 215.1% in the 1st quarter. Jennison Associates LLC now owns 1,179,736 shares of the company’s stock worth $66,667,000 after buying an additional 805,319 shares in the last quarter. Situational Awareness LP grew its stake in Solaris Energy Infrastructure by 2.2% in the 2nd quarter. Situational Awareness LP now owns 1,129,621 shares of the company’s stock valued at $90,889,000 after acquiring an additional 24,070 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in Solaris Energy Infrastructure by 146.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,029,000 shares of the company’s stock valued at $73,244,000 after acquiring an additional 611,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Solaris Energy Infrastructure by 19.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 871,462 shares of the company’s stock valued at $49,239,000 after acquiring an additional 142,973 shares in the last quarter. Finally, Two Seas Capital LP purchased a new position in Solaris Energy Infrastructure during the 3rd quarter valued at about $56,007,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

About Solaris Energy Infrastructure

Solaris Energy Infrastructure, Inc provides infrastructure solutions for energy-intensive industries in North America. The company develops, deploys and operates power-generation and power-management systems designed to deliver reliable electricity to customers with substantial or specialized energy needs, including data centers and other high-demand facilities.

Solaris also provides logistics infrastructure and related services for the oil and natural gas industry. Its offerings have included mobile and fixed proppant-management systems, silo storage, transloading and last-mile delivery solutions used to transport and manage sand and other materials at wellsites.

Founded in 2014 as Solaris Oilfield Infrastructure, the company historically focused on improving the efficiency of oilfield logistics before expanding into broader energy infrastructure and power solutions.