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

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Get Free Report) dropped 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 trading, a decline of 60% from the average daily volume of 1,459,129 shares. The stock had previously closed at $32.47.

Analysts Set New Price Targets

SEI has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Solaris Energy Infrastructure from $50.00 to $51.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Northland Capmk raised shares of Solaris Energy Infrastructure to a "strong-buy" rating in a research report on Tuesday, April 22nd. Citigroup assumed coverage on shares of Solaris Energy Infrastructure in a research report on Thursday, May 22nd. They issued a "buy" rating on the stock. Northland Securities assumed coverage on shares of Solaris Energy Infrastructure in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $37.00 price objective on the stock. Finally, Wall Street Zen cut shares of Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Solaris Energy Infrastructure presently has an average rating of "Buy" and a consensus price target of $42.56.

Solaris Energy Infrastructure Stock Down 1.4%

The firm's 50-day simple moving average is $26.79 and its 200 day simple moving average is $26.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.40 and a current ratio of 3.61. The stock has a market capitalization of $2.07 billion, a P/E ratio of 69.79 and a beta of 1.09.

Solaris Energy Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were issued a $0.12 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.57%. Solaris Energy Infrastructure's payout ratio is 97.96%.

Insider Transactions at Solaris Energy Infrastructure

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 shares were acquired at an average price of $26.77 per share, for a total transaction of $26,770.00. Following the purchase, the director owned 98,459 shares in the company, valued at approximately $2,635,747.43. This represents a 1.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William A. Zartler purchased 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was bought at an average price of $21.78 per share, for a total transaction of $217,800.00. Following the purchase, the chief executive officer owned 1,039,227 shares in the company, valued at $22,634,364.06. The trade was a 0.97% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 12,000 shares of company stock worth $267,150. 21.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in Solaris Energy Infrastructure in the 2nd quarter valued at about $200,000. Rhumbline Advisers acquired a new position in Solaris Energy Infrastructure in the 1st quarter valued at about $962,000. Strs Ohio acquired a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth approximately $28,000. Empowered Funds LLC acquired a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth approximately $4,322,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth approximately $13,714,000. 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.