Solaris Energy Infrastructure (NASDAQ:SEI) Upgraded by Citigroup to "Strong-Buy" Rating

Citigroup upgraded shares of Solaris Energy Infrastructure (NASDAQ:SEI - Free Report) to a strong-buy rating in a research note published on Thursday, Marketbeat reports. Citigroup currently has $32.00 target price on the stock.

SEI has been the topic of several other research reports. Northland Capmk upgraded Solaris Energy Infrastructure to a "strong-buy" rating in a report on Tuesday, April 22nd. Piper Sandler boosted their price target on shares of Solaris Energy Infrastructure from $50.00 to $51.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Tudor Pickering raised Solaris Energy Infrastructure to a "strong-buy" rating in a research report on Wednesday, January 22nd. Janney Montgomery Scott initiated coverage on Solaris Energy Infrastructure in a research report on Tuesday, February 25th. They set a "buy" rating and a $57.00 price objective for the company. Finally, Vertical Research initiated coverage on Solaris Energy Infrastructure in a report on Wednesday, May 14th. They issued a "buy" rating and a $36.00 price target for the company. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $43.14.

Solaris Energy Infrastructure Stock Performance

SEI traded up $1.61 during trading on Thursday, reaching $27.04. 2,068,164 shares of the company's stock were exchanged, compared to its average volume of 1,050,527. Solaris Energy Infrastructure has a 1 year low of $10.96 and a 1 year high of $39.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.61 and a quick ratio of 3.40. The stock has a market capitalization of $1.83 billion, a P/E ratio of 61.47 and a beta of 1.01. The company's fifty day simple moving average is $20.99 and its 200-day simple moving average is $24.88.

Solaris Energy Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, June 3rd. Solaris Energy Infrastructure's dividend payout ratio is 97.96%.

Insider Activity

In related news, CEO William A. Zartler bought 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was acquired at an average price of $21.78 per share, for a total transaction of $217,800.00. Following the transaction, the chief executive officer now directly owns 1,039,227 shares of the company's stock, valued at $22,634,364.06. This represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Laurie H. Argo bought 4,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $22.43 per share, with a total value of $89,720.00. Following the transaction, the director now owns 46,064 shares of the company's stock, valued at $1,033,215.52. The trade was a 9.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 15,000 shares of company stock valued at $330,100. Insiders own 21.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SEI. Empowered Funds LLC acquired a new position in Solaris Energy Infrastructure during the first quarter valued at approximately $4,322,000. Goldman Sachs Group Inc. acquired a new position in Solaris Energy Infrastructure during the first quarter valued at approximately $13,714,000. Dynamic Technology Lab Private Ltd acquired a new position in Solaris Energy Infrastructure during the first quarter valued at approximately $807,000. Uniplan Investment Counsel Inc. acquired a new position in Solaris Energy Infrastructure during the first quarter valued at approximately $4,651,000. Finally, Millennium Management LLC acquired a new position in Solaris Energy Infrastructure during the first quarter valued at approximately $24,335,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Solaris Energy Infrastructure Company Profile

Solaris Energy Infrastructure, Inc is a holding company, which engages in the manufacture of patented mobile proppant management systems that unload, store, and deliver proppant to oil and natural gas well sites. Its products include Mobile Proppant and Mobile Chemical Management Systems, and Inventory Management Software.