Solaris Energy Infrastructure, Inc. $SEI Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Solaris Energy Infrastructure stake by 81.6% in the second quarter, selling 352,329 shares and retaining 79,594 shares worth approximately $6.4 million. Institutional investors collectively own 67.44% of SEI.
• Wall Street sentiment remains positive, with analysts giving SEI a consensus rating of “Moderate Buy” and an average price target of $86.33. Recent targets range from $73 to $98.
• Solaris exceeded quarterly earnings expectations, reporting $0.39 EPS versus the $0.31 consensus on revenue of $219.4 million. Shares opened at $58.78, compared with a 52-week range of $24.57 to $86.19.

Assenagon Asset Management S.A. lessened its position in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 81.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,594 shares of the company's stock after selling 352,329 shares during the period. Assenagon Asset Management S.A. owned approximately 0.11% of Solaris Energy Infrastructure worth $6,404,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SEI. Cullen Frost Bankers Inc. bought a new stake in Solaris Energy Infrastructure in the fourth quarter worth about $28,000. Signaturefd LLC boosted its position in shares of Solaris Energy Infrastructure by 344.9% in the fourth quarter. Signaturefd LLC now owns 614 shares of the company's stock worth $28,000 after buying an additional 476 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Solaris Energy Infrastructure during the third quarter valued at $31,000. Larson Financial Group LLC raised its position in Solaris Energy Infrastructure by 363.0% during the third quarter. Larson Financial Group LLC now owns 1,014 shares of the company's stock valued at $41,000 after buying an additional 795 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Solaris Energy Infrastructure by 105.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,205 shares of the company's stock valued at $56,000 after buying an additional 619 shares during the period. Institutional investors own 67.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays raised their price objective on Solaris Energy Infrastructure from $86.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday. Wells Fargo & Company upgraded Solaris Energy Infrastructure from an "equal weight" rating to an "overweight" rating and dropped their target price for the company from $82.00 to $73.00 in a report on Monday, August 3rd. Morgan Stanley raised their price target on shares of Solaris Energy Infrastructure from $81.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Citigroup boosted their price objective on shares of Solaris Energy Infrastructure from $61.00 to $84.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Finally, Needham & Company LLC upped their price objective on shares of Solaris Energy Infrastructure from $97.00 to $98.00 and gave the company a "buy" rating in a research note on Friday, August 7th. 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $86.33.

Solaris Energy Infrastructure Price Performance

SEI opened at $58.78 on Wednesday. The stock has a fifty day moving average price of $67.00 and a 200 day moving average price of $63.21. The company has a current ratio of 4.12, a quick ratio of 4.03 and a debt-to-equity ratio of 2.23. Solaris Energy Infrastructure, Inc. has a 1 year low of $24.57 and a 1 year high of $86.19. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 69.15 and a beta of 1.23.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. The company 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%. Analysts forecast that Solaris Energy Infrastructure, Inc. will post 1.01 EPS for the current fiscal year.

Solaris Energy Infrastructure 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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