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

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Get Free Report) shares were down 5.1% on Wednesday . The company traded as low as $31.06 and last traded at $30.81. Approximately 585,222 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 1,459,129 shares. The stock had previously closed at $32.47.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SEI shares. Citigroup initiated coverage on Solaris Energy Infrastructure in a research report on Thursday, May 22nd. They issued a "buy" rating for the company. Wall Street Zen downgraded shares of Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a research note on Wednesday, June 25th. Northland Capmk raised shares of Solaris Energy Infrastructure to a "strong-buy" rating in a research note on Tuesday, April 22nd. Northland Securities started coverage on shares of Solaris Energy Infrastructure in a report on Tuesday, April 22nd. They set an "outperform" rating and a $37.00 price target for the company. Finally, Barclays assumed coverage on shares of Solaris Energy Infrastructure in a report on Friday, June 6th. They set an "overweight" rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Solaris Energy Infrastructure has an average rating of "Buy" and a consensus target price of $42.56.

Solaris Energy Infrastructure Trading Up 1.7%

The business's fifty day moving average is $26.94 and its two-hundred day moving average is $26.04. The company has a quick ratio of 3.40, a current ratio of 3.61 and a debt-to-equity ratio of 0.77. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 70.98 and a beta of 1.09.

Solaris Energy Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, June 3rd. Solaris Energy Infrastructure's dividend payout ratio is presently 97.96%.

Insiders Place Their Bets

In other news, Director Aj Teague purchased 1,000 shares of Solaris Energy Infrastructure stock in a transaction dated Friday, May 23rd. The shares were bought at an average cost of $26.77 per share, with a total value of $26,770.00. Following the completion of the transaction, the director directly owned 98,459 shares in the company, valued at $2,635,747.43. This trade represents a 1.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William A. Zartler purchased 10,000 shares of Solaris Energy Infrastructure stock in a transaction dated Wednesday, May 21st. The shares were purchased at an average cost of $21.78 per share, for a total transaction of $217,800.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 12,000 shares of company stock worth $267,150. Insiders own 21.20% of the company's stock.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acuitas Investments LLC bought a new stake in Solaris Energy Infrastructure in the 1st quarter valued at $3,728,000. GAMMA Investing LLC bought a new stake in Solaris Energy Infrastructure in the 1st quarter valued at about $435,000. Congress Asset Management Co. acquired a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth approximately $4,379,000. Assenagon Asset Management S.A. acquired a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth approximately $772,000. Finally, Retirement Planning Group LLC acquired a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth approximately $802,000. 67.44% of the stock is owned by institutional investors.

About Solaris Energy Infrastructure

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.