Solaris Energy Infrastructure (NYSE:SEI) Shares Gap Down - Here's What Happened

Key Points

• Solaris shares fell sharply, opening at $63.64 after closing at $69.37 and later trading at $61.09; the article does not identify a specific cause for the drop.
• Analysts remain broadly positive, with a consensus Buy rating and an average price target of $94.08, though individual targets range from $72 to $104.
• The company beat quarterly earnings estimates, reporting EPS of $0.39 versus $0.31 expected; a director also recently bought 3,900 shares.

Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report) gapped down prior to trading on Wednesday. The stock had previously closed at $69.37, but opened at $63.64. Solaris Energy Infrastructure shares last traded at $61.09, with a volume of 716,534 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup upped their target price on Solaris Energy Infrastructure from $84.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, September 24th. Needham & Company LLC reissued a "buy" rating and issued a $104.00 price target on shares of Solaris Energy Infrastructure in a research note on Friday, October 30th. Wells Fargo & Company cut their price objective on Solaris Energy Infrastructure from $85.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, October 26th. Zacks Research upgraded shares of Solaris Energy Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, October 9th. Finally, Stifel Nicolaus lifted their target price on shares of Solaris Energy Infrastructure from $98.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $94.08.

Solaris Energy Infrastructure Trading Down 18.3%

The business has a 50 day simple moving average of $65.54 and a 200 day simple moving average of $63.37. The company has a debt-to-equity ratio of 2.23, a current ratio of 4.12 and a quick ratio of 4.03. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 66.71 and a beta of 1.40.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.08. The business had revenue of $219.40 million during the quarter. Solaris Energy Infrastructure had a return on equity of 13.26% and a net margin of 7.19%. As a group, equities analysts forecast that Solaris Energy Infrastructure, Inc. will post 1.42 EPS for the current year.

Insider Activity

In related news, Director A. Teague purchased 3,900 shares of the firm's stock in a transaction dated Tuesday, September 8th. The shares were acquired at an average cost of $64.21 per share, with a total value of $250,419.00. Following the completion of the purchase, the director directly owned 116,865 shares of the company's stock, valued at $7,503,901.65. This trade represents a 3.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 20.23% of the company's stock.

Institutional Investors Weigh In On Solaris Energy Infrastructure

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Situational Awareness LP grew its holdings in Solaris Energy Infrastructure by 2.2% during the second quarter. Situational Awareness LP now owns 1,129,621 shares of the company's stock valued at $90,889,000 after purchasing an additional 24,070 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Solaris Energy Infrastructure by 146.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,029,000 shares of the company's stock worth $73,244,000 after purchasing an additional 611,000 shares during the period. Jennison Associates LLC boosted its position in shares of Solaris Energy Infrastructure by 215.1% during the first 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 in the last quarter. Two Seas Capital LP bought a new position in shares of Solaris Energy Infrastructure during the third quarter worth $56,007,000. Finally, Dimensional Fund Advisors LP grew its holdings 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 buying an additional 142,973 shares during the period. Institutional investors own 67.44% of the company's stock.

Solaris Energy Infrastructure Company Profile

Solaris Energy Infrastructure, Inc provides infrastructure solutions for energy-intensive industries in North America. The company develops, deploys and operates power-generation and power-management systems designed to deliver reliable electricity to customers with substantial or specialized energy needs, including data centers and other high-demand facilities.

Solaris also provides logistics infrastructure and related services for the oil and natural gas industry. Its offerings have included mobile and fixed proppant-management systems, silo storage, transloading and last-mile delivery solutions used to transport and manage sand and other materials at wellsites.

Founded in 2014 as Solaris Oilfield Infrastructure, the company historically focused on improving the efficiency of oilfield logistics before expanding into broader energy infrastructure and power solutions.

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