Solaris Energy Infrastructure (NASDAQ:SEI) Stock Price Down 5.1% - Here's What Happened

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Get Free Report)'s stock price dropped 5.1% during trading on Wednesday . The company traded as low as $26.90 and last traded at $26.90. Approximately 57,484 shares changed hands during trading, a decline of 95% from the average daily volume of 1,088,310 shares. The stock had previously closed at $28.34.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SEI shares. Vertical Research assumed coverage on Solaris Energy Infrastructure in a report on Wednesday, May 14th. They issued a "buy" rating and a $36.00 target price for the company. Barclays initiated coverage on shares of Solaris Energy Infrastructure in a research note on Friday, June 6th. They issued an "overweight" rating and a $42.00 price objective for the company. Citigroup assumed coverage on shares of Solaris Energy Infrastructure in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. Northland Securities began coverage on Solaris Energy Infrastructure in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $37.00 price objective for the company. Finally, Piper Sandler boosted their price target on Solaris Energy Infrastructure from $50.00 to $51.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Ten 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 stock has a consensus rating of "Buy" and a consensus price target of $42.56.

Solaris Energy Infrastructure Price Performance

The firm has a market cap of $1.85 billion, a PE ratio of 61.98 and a beta of 1.11. The company has a current ratio of 3.61, a quick ratio of 3.40 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average price of $24.41 and a 200 day moving average price of $25.84.

Solaris Energy Infrastructure Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 1.75%. Solaris Energy Infrastructure's payout ratio is 97.96%.

Insider Buying and Selling at Solaris Energy Infrastructure

In related news, Director Aj Teague purchased 1,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was bought at an average price of $26.77 per share, with a total value of $26,770.00. Following the completion of the transaction, the director now owns 98,459 shares of the company's stock, valued at approximately $2,635,747.43. This represents a 1.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Zartler acquired 10,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was purchased at an average cost of $21.78 per share, with a total value of $217,800.00. Following the transaction, the chief executive officer now owns 1,039,227 shares of the company's stock, valued at approximately $22,634,364.06. The trade was a 0.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 12,000 shares of company stock valued at $267,150. Insiders own 21.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC bought a new position in shares of Solaris Energy Infrastructure in the first quarter worth $78,967,000. Driehaus Capital Management LLC acquired a new stake in shares of Solaris Energy Infrastructure during the 1st quarter valued at $44,073,000. Vanguard Group Inc. purchased a new stake in shares of Solaris Energy Infrastructure during the first quarter valued at $35,060,000. Westwood Holdings Group Inc. acquired a new position in shares of Solaris Energy Infrastructure in the first quarter worth about $29,298,000. Finally, Millennium Management LLC purchased a new stake in shares of Solaris Energy Infrastructure in the first quarter valued at $24,335,000. Institutional investors and hedge funds 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.

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