Solaris Energy Infrastructure (NASDAQ:SEI) Shares Gap Up Following Insider Buying Activity

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Get Free Report)'s stock price gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $21.73, but opened at $22.35. Solaris Energy Infrastructure shares last traded at $22.71, with a volume of 113,434 shares changing hands.

Specifically, CEO William A. Zartler purchased 10,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were acquired at an average price of $21.78 per share, with a total value of $217,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,039,227 shares of the company's stock, valued at $22,634,364.06. This trade represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

SEI has been the topic of several research analyst reports. Citigroup initiated coverage on shares of Solaris Energy Infrastructure in a report on Thursday. They issued a "buy" rating on the stock. Piper Sandler boosted their target price on shares of Solaris Energy Infrastructure from $50.00 to $51.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Vertical Research initiated coverage on shares of Solaris Energy Infrastructure in a report on Wednesday, May 14th. They issued a "buy" rating and a $36.00 target price on the stock. Northland Securities initiated coverage on shares of Solaris Energy Infrastructure in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $37.00 target price on the stock. Finally, Northland Capmk raised shares of Solaris Energy Infrastructure to a "strong-buy" rating in a report on Tuesday, April 22nd. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $43.14.

Solaris Energy Infrastructure Price Performance

The firm's 50-day moving average is $20.99 and its two-hundred day moving average is $24.88. The company has a market cap of $1.83 billion, a P/E ratio of 61.47 and a beta of 1.01. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, June 3rd will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, June 3rd. Solaris Energy Infrastructure's dividend payout ratio is presently 97.96%.

Institutional Investors Weigh In On Solaris Energy Infrastructure

Several large investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC bought a new stake in Solaris Energy Infrastructure in the first quarter worth $78,967,000. Driehaus Capital Management LLC bought a new position in Solaris Energy Infrastructure during the first quarter valued at $44,073,000. Vanguard Group Inc. bought a new position in Solaris Energy Infrastructure during the first quarter valued at $35,060,000. Westwood Holdings Group Inc. bought a new position in Solaris Energy Infrastructure during the first quarter valued at $29,298,000. Finally, Millennium Management LLC bought a new position in Solaris Energy Infrastructure during the first quarter valued at $24,335,000. Institutional investors own 67.44% of the company's stock.

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.