Solaris Energy Infrastructure (NYSE:SEI) Shares Gap Up - Time to Buy?

Key Points

• Solaris Energy Infrastructure shares surged: The stock opened at $61.85 after previously closing at $55.00 and last traded at $63.77 on substantial volume.
• Analysts remain broadly bullish: Ten analysts rate SEI a Buy, compared with one Hold and one Sell, resulting in a “Moderate Buy” consensus and an average price target of $87.17.
• Recent results beat expectations: Solaris reported quarterly EPS of $0.39 versus the $0.31 consensus estimate on revenue of $219.4 million, while institutional investors own 67.44% of the company.

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $55.00, but opened at $61.85. Solaris Energy Infrastructure shares last traded at $63.77, with a volume of 869,825 shares traded.

Wall Street Analysts Forecast Growth

SEI has been the topic of several research analyst reports. Wells Fargo & Company raised Solaris Energy Infrastructure from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $82.00 to $73.00 in a research note on Monday, August 3rd. Northland Securities set a $104.00 price target on Solaris Energy Infrastructure in a research note on Friday, June 12th. Barclays lifted their price target on shares of Solaris Energy Infrastructure from $86.00 to $90.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Stifel Nicolaus set a $98.00 price objective on shares of Solaris Energy Infrastructure in a research report on Friday, August 7th. Finally, Wolfe Research started coverage on shares of Solaris Energy Infrastructure in a report on Monday, July 6th. They issued an "outperform" rating and a $120.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $87.17.

Solaris Energy Infrastructure Price Performance

The business has a fifty day simple moving average of $59.13 and a two-hundred day simple moving average of $63.49. The company has a current ratio of 4.12, a quick ratio of 4.03 and a debt-to-equity ratio of 2.23. The stock has a market cap of $4.84 billion, a PE ratio of 74.38 and a beta of 1.25.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.08. Solaris Energy Infrastructure had a return on equity of 13.26% and a net margin of 7.19%.The company had revenue of $219.40 million during the quarter. Research analysts forecast that Solaris Energy Infrastructure, Inc. will post 0.84 earnings per share for the current year.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEI. California State Teachers Retirement System grew its position in shares of Solaris Energy Infrastructure by 7,779.5% in the 2nd quarter. California State Teachers Retirement System now owns 4,080,851 shares of the company's stock worth $328,345,000 after buying an additional 4,029,060 shares during the period. Value Aligned Research Advisors LLC purchased a new position in Solaris Energy Infrastructure during the 4th quarter valued at about $44,864,000. Jennison Associates LLC lifted its position in Solaris Energy Infrastructure by 215.1% during the 1st quarter. Jennison Associates LLC now owns 1,179,736 shares of the company's stock valued at $66,667,000 after acquiring an additional 805,319 shares during the period. Valiant Capital Management L.P. bought a new stake in Solaris Energy Infrastructure during the fourth quarter worth about $33,765,000. Finally, Situational Awareness LP boosted its stake in Solaris Energy Infrastructure by 62.3% during the fourth quarter. Situational Awareness LP now owns 1,866,500 shares of the company's stock worth $85,803,000 after acquiring an additional 716,200 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company's stock.

About Solaris Energy Infrastructure

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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