Castleark Management LLC Has $5.33 Million Holdings in Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Castleark Management reduced its Solaris Energy Infrastructure stake by 37.6% in the first quarter, selling 56,740 shares and retaining 94,256 shares valued at approximately $5.33 million. Institutional investors and hedge funds collectively own 67.44% of the stock.
• Solaris reported quarterly EPS of $0.44, exceeding analysts’ $0.26 consensus estimate, on revenue of $196.24 million. Shares opened at $52.53, well below their 52-week high of $86.19.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $86.25; however, insiders sold more than 4.09 million shares worth roughly $297.8 million over the past 90 days.

Castleark Management LLC cut its position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 37.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,256 shares of the company's stock after selling 56,740 shares during the period. Castleark Management LLC owned about 0.14% of Solaris Energy Infrastructure worth $5,326,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Royal Bank of Canada acquired a new stake in Solaris Energy Infrastructure during the first quarter worth $477,000. AQR Capital Management LLC bought a new stake in Solaris Energy Infrastructure in the 1st quarter valued at $2,475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Solaris Energy Infrastructure in the 1st quarter valued at $396,000. Goldman Sachs Group Inc. acquired a new position in shares of Solaris Energy Infrastructure in the 1st quarter valued at $13,714,000. Finally, Strs Ohio bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth about $28,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Solaris Energy Infrastructure Stock Down 2.8%

Shares of NYSE:SEI opened at $52.53 on Tuesday. The company's fifty day moving average is $70.87 and its 200-day moving average is $63.20. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.07 and a current ratio of 1.11. Solaris Energy Infrastructure, Inc. has a 52 week low of $24.57 and a 52 week high of $86.19. The company has a market capitalization of $3.86 billion, a PE ratio of 59.02 and a beta of 1.17.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last announced its earnings results on Monday, April 27th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 predict that Solaris Energy Infrastructure, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Solaris Energy Infrastructure from $65.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Needham & Company LLC started coverage on shares of Solaris Energy Infrastructure in a research note on Monday, June 29th. They set a "buy" rating and a $97.00 price target for the company. Wells Fargo & Company lifted their price objective on Solaris Energy Infrastructure from $71.00 to $82.00 and gave the company an "equal weight" rating in a report on Wednesday, April 29th. Citigroup upped their price objective on Solaris Energy Infrastructure from $61.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings cut Solaris Energy Infrastructure from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.25.

Insider Transactions at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, insider Christopher M. Powell sold 36,852 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $74.63, for a total transaction of $2,750,264.76. Following the sale, the insider directly owned 114,117 shares of the company's stock, valued at approximately $8,516,551.71. This represents a 24.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Howard Keenan, Jr. sold 2,000,000 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $74.50, for a total value of $149,000,000.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 4,099,593 shares of company stock valued at $297,782,099. 20.23% of the stock is owned by company insiders.

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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