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

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Get Free Report)'s share price dropped 5.1% on Wednesday . The stock traded as low as $31.06 and last traded at $30.81. Approximately 585,222 shares changed hands 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 Analyst Weigh In

SEI has been the topic of several research analyst reports. Raymond James Financial initiated coverage on shares of Solaris Energy Infrastructure in a report on Friday, June 13th. They issued an "outperform" rating and a $39.00 price target on the stock. Northland Capmk raised Solaris Energy Infrastructure to a "strong-buy" rating in a research note on Tuesday, April 22nd. Citigroup began coverage on Solaris Energy Infrastructure in a research note on Thursday, May 22nd. They issued a "buy" rating on the stock. Barclays began coverage on Solaris Energy Infrastructure in a research note on Friday, June 6th. They issued an "overweight" rating and a $42.00 target price on the stock. Finally, Wall Street Zen cut Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a research note on Wednesday, June 25th. 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 stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $42.56.

Solaris Energy Infrastructure Trading Up 1.7%

The firm's 50-day simple moving average is $27.10 and its 200-day simple 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 capitalization of $2.11 billion, a PE ratio of 70.98 and a beta of 1.09.

Solaris Energy Infrastructure Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.54%. Solaris Energy Infrastructure's payout ratio is 97.96%.

Insider Activity

In other news, Director Aj Teague bought 1,000 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was bought 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 approximately $2,635,747.43. This trade represents a 1.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William A. Zartler bought 10,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were purchased 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 owned 1,039,227 shares of the company's stock, valued at $22,634,364.06. This trade represents a 0.97% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 12,000 shares of company stock valued at $267,150. Company insiders own 21.20% of the company's stock.

Institutional Trading of Solaris Energy Infrastructure

A number of institutional investors have recently modified their holdings of SEI. Strs Ohio purchased a new stake in Solaris Energy Infrastructure in the first quarter worth about $28,000. Wayfinding Financial LLC purchased a new stake in Solaris Energy Infrastructure in the first quarter worth about $29,000. US Bancorp DE purchased a new stake in Solaris Energy Infrastructure in the first quarter worth about $38,000. California State Teachers Retirement System purchased a new stake in Solaris Energy Infrastructure in the fourth quarter worth about $52,000. Finally, Nisa Investment Advisors LLC purchased a new stake in Solaris Energy Infrastructure in the first quarter worth about $41,000. 67.44% of the stock is currently owned by hedge funds and other 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.