Solaris Energy Infrastructure (NYSE:SEI) Shares Climb 5.1% - Here's What Happened

Key Points

• Solaris Energy Infrastructure shares jumped 5.1% to $65.95 in mid-day trading, despite trading volume running 75% below its average.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Buy” and an average price target of $94.17; recent targets range from $82 to $111.
• The company recently exceeded quarterly earnings expectations, reporting $0.39 in EPS versus the $0.31 consensus estimate, while a director purchased approximately $250,000 worth of shares.

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report) shot up 5.1% during mid-day trading on Monday. The company traded as high as $66.72 and last traded at $65.95. Approximately 693,074 shares were traded during trading, a decline of 75% from the average daily volume of 2,765,995 shares. The stock had previously closed at $62.74.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SEI shares. Zacks Research raised shares of Solaris Energy Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 9th. Wall Street Zen raised shares of Solaris Energy Infrastructure from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 3rd. Wells Fargo & Company restated an "outperform" rating and issued a $85.00 target price on shares of Solaris Energy Infrastructure in a report on Friday, September 25th. Piper Sandler raised their target price on Solaris Energy Infrastructure from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday, August 27th. Finally, Northland Securities set a $111.00 target price on Solaris Energy Infrastructure in a research report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Solaris Energy Infrastructure presently has an average rating of "Buy" and an average target price of $94.17.

Solaris Energy Infrastructure Trading Up 5.3%

The company's 50 day moving average price is $63.95 and its 200 day moving average price is $66.53. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 77.73 and a beta of 1.28. 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 released its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. Solaris Energy Infrastructure had a net margin of 7.19% and a return on equity of 13.26%. The business had revenue of $219.40 million during the quarter. Research analysts anticipate that Solaris Energy Infrastructure, Inc. will post 1.16 EPS for the current year.

Insiders Place Their Bets

In related news, Director A. Teague purchased 3,900 shares of Solaris Energy Infrastructure stock in a transaction on Tuesday, September 8th. The stock was bought at an average price of $64.21 per share, with a total value of $250,419.00. Following the completion of the transaction, the director directly owned 116,865 shares of the company's stock, valued at approximately $7,503,901.65. This represents a 3.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 20.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its holdings in shares of Solaris Energy Infrastructure by 215.1% during the 1st quarter. Jennison Associates LLC now owns 1,179,736 shares of the company's stock worth $66,667,000 after purchasing an additional 805,319 shares during the period. Situational Awareness LP lifted its position in shares of Solaris Energy Infrastructure by 2.2% during the 2nd quarter. Situational Awareness LP now owns 1,129,621 shares of the company's stock worth $90,889,000 after buying an additional 24,070 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Solaris Energy Infrastructure by 19.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 871,462 shares of the company's stock valued at $49,239,000 after purchasing an additional 142,973 shares in the last quarter. Two Seas Capital LP acquired a new stake in shares of Solaris Energy Infrastructure during the third quarter worth approximately $56,007,000. Finally, Ranger Investment Management L.P. acquired a new stake in Solaris Energy Infrastructure during the 2nd quarter valued at $46,967,000. Institutional investors and hedge funds own 67.44% of the company's stock.

About Solaris Energy Infrastructure

Solaris Energy Infrastructure, Inc NYSE: SEI is an energy infrastructure company that develops, owns and operates mobile and distributed power-generation and energy-management systems. The company provides customers with reliable electricity and related infrastructure designed for applications that require flexible, scalable power capacity.

Solaris' offerings have historically included natural gas-powered mobile generators, battery energy-storage systems, power distribution equipment and associated services.

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