Solaris Energy Infrastructure (NASDAQ:SEI) Stock Price Down 9.6% - Here's What Happened

Key Points

• Solaris Energy Infrastructure shares fell by 9.6% to close at $29.54, with trading volume down 72% compared to the average.
• Analysts maintain a generally optimistic outlook on the stock, with ten buy ratings and a consensus price target of $42.33.
• The company announced a quarterly dividend of $0.12 per share, leading to an annualized yield of 1.6%, with a payout ratio of 81.36%.

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Get Free Report)'s stock price dropped 9.6% during trading on Friday . The company traded as low as $28.94 and last traded at $29.54. Approximately 409,972 shares traded hands during trading, a decline of 72% from the average daily volume of 1,490,724 shares. The stock had previously closed at $32.67.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SEI. Northland Capmk raised shares of Solaris Energy Infrastructure to a "strong-buy" rating in a research note on Tuesday, April 22nd. Wall Street Zen lowered shares of Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a report on Wednesday, June 25th. Stifel Nicolaus reiterated a "buy" rating and set a $45.00 target price (up from $41.00) on shares of Solaris Energy Infrastructure in a report on Friday, July 25th. Citigroup assumed coverage on shares of Solaris Energy Infrastructure in a report on Thursday, May 22nd. They set a "buy" rating on the stock. Finally, Vertical Research assumed coverage on shares of Solaris Energy Infrastructure in a report on Wednesday, May 14th. They set a "buy" rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $42.33.

Solaris Energy Infrastructure Stock Down 2.7%

The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 68.13 and a beta of 1.14. The stock's fifty day simple moving average is $29.64 and its two-hundred day simple moving average is $26.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.61 and a quick ratio of 3.40.

Solaris Energy Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.48 annualized dividend and a yield of 1.6%. Solaris Energy Infrastructure's dividend payout ratio (DPR) is presently 81.36%.

Insider Activity

In related news, Director Aj Teague purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average cost of $26.77 per share, for a total transaction of $26,770.00. Following the completion of the acquisition, the director owned 98,459 shares in the company, valued at $2,635,747.43. This trade represents a 1.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Zartler acquired 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average cost of $21.78 per share, for a total transaction of $217,800.00. Following the transaction, the chief executive officer owned 1,039,227 shares of the company's stock, valued at approximately $22,634,364.06. This represents a 0.97% increase in their position. The disclosure for this purchase can be found here. 21.20% of the stock is currently owned by company insiders.

Institutional Trading of Solaris Energy Infrastructure

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System acquired a new stake in shares of Solaris Energy Infrastructure during the fourth quarter worth $52,000. GAMMA Investing LLC acquired a new stake in shares of Solaris Energy Infrastructure during the first quarter worth $435,000. Rhumbline Advisers acquired a new stake in shares of Solaris Energy Infrastructure during the first quarter worth $962,000. Retirement Planning Group LLC acquired a new stake in shares of Solaris Energy Infrastructure during the first quarter worth $802,000. Finally, Riverview Trust Co acquired a new stake in shares of Solaris Energy Infrastructure during the first quarter worth $47,000. 67.44% of the stock is owned by institutional investors.

Solaris Energy Infrastructure Company Profile

Solaris Energy Infrastructure, Inc is a holding company, which engages in the manufacture of patented mobile proppant management systems that unload, store, and deliver proppant to oil and natural gas well sites. Its products include Mobile Proppant and Mobile Chemical Management Systems, and Inventory Management Software.