Solaris Energy Infrastructure (NYSE:SEI) Given "Buy" Rating at Needham & Company LLC

Key Points

• Needham & Company reaffirmed a “Buy” rating on Solaris Energy Infrastructure with a $98 price target, implying 96.2% upside from the prior close. Analysts overall give the stock a “Moderate Buy” rating with an average target of $87.17.
• SEI shares rose 0.6% to $49.95, while the company reported quarterly EPS of $0.39, beating consensus estimates of $0.31, on revenue of $219.4 million.
• Institutional investors and hedge funds own 67.44% of the stock, with several large holders significantly increasing their positions in recent quarters.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They currently have a $98.00 price objective on the stock. Needham & Company LLC's target price suggests a potential upside of 96.20% from the company's previous close.

A number of other equities analysts have also commented on SEI. Piper Sandler raised their price objective on shares of Solaris Energy Infrastructure from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. Wall Street Zen lowered Solaris Energy Infrastructure from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Weiss Ratings downgraded Solaris Energy Infrastructure from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Wells Fargo & Company raised Solaris Energy Infrastructure from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $82.00 to $73.00 in a research report on Monday, August 3rd. Finally, Zacks Research lowered Solaris Energy Infrastructure from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 30th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $87.17.

Solaris Energy Infrastructure Trading Up 0.6%

Shares of NYSE:SEI traded up $0.31 during midday trading on Wednesday, reaching $49.95. The company had a trading volume of 915,538 shares, compared to its average volume of 2,740,471. The company has a fifty day simple moving average of $61.01 and a two-hundred day simple moving average of $63.50. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 58.77 and a beta of 1.25. Solaris Energy Infrastructure has a 1-year low of $24.57 and a 1-year high of $86.19. The company has a debt-to-equity ratio of 2.23, a quick ratio of 4.03 and a current ratio of 4.12.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.08. The company had revenue of $219.40 million during the quarter. Solaris Energy Infrastructure had a net margin of 7.19% and a return on equity of 13.26%. Research analysts predict that Solaris Energy Infrastructure will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in Solaris Energy Infrastructure by 7,779.5% in the second quarter. California State Teachers Retirement System now owns 4,080,851 shares of the company's stock worth $328,345,000 after buying an additional 4,029,060 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Solaris Energy Infrastructure by 2,120.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company's stock valued at $67,408,000 after acquiring an additional 1,400,311 shares during the last quarter. Value Aligned Research Advisors LLC bought a new stake in Solaris Energy Infrastructure in the fourth quarter worth approximately $44,864,000. Jennison Associates LLC grew its position in Solaris Energy Infrastructure by 215.1% in the first quarter. Jennison Associates LLC now owns 1,179,736 shares of the company's stock worth $66,667,000 after acquiring an additional 805,319 shares in the last quarter. Finally, Valiant Capital Management L.P. acquired a new position in shares of Solaris Energy Infrastructure during the 4th quarter worth $33,765,000. 67.44% of the stock is owned by institutional investors and hedge funds.

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.

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