Solaris Energy Infrastructure (NYSE:SEI) CFO Acquires $50,000.00 in Stock

Key Points

• Solaris Energy Infrastructure CFO Kyle Ramachandran purchased 2,000 shares at $25.00 each, totaling $50,000, increasing his ownership stake by 0.54% to 370,338 shares.
• The company's shares experienced a 3.5% decline on the trading day, reaching $25.03, amidst an increased trading volume of over 2.2 million shares.
• Solaris announced a quarterly dividend of $0.12 per share, to be paid on September 26th, reflecting an annualized yield of 1.9% with a payout ratio of 81.36%.

Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report) CFO Kyle S. Ramachandran acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the transaction, the chief financial officer owned 370,338 shares of the company's stock, valued at $9,258,450. This trade represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Solaris Energy Infrastructure Stock Performance

Solaris Energy Infrastructure stock traded up $0.79 during midday trading on Friday, reaching $31.09. 2,259,983 shares of the company traded hands, compared to its average volume of 1,750,440. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.11 and a quick ratio of 2.98. Solaris Energy Infrastructure, Inc. has a 12 month low of $11.42 and a 12 month high of $39.03. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 52.70 and a beta of 1.15. The business has a 50 day moving average of $29.87 and a two-hundred day moving average of $26.09.

Solaris Energy Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio (DPR) is presently 81.36%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SEI shares. Piper Sandler decreased their price objective on shares of Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Citigroup started coverage on shares of Solaris Energy Infrastructure in a report on Thursday, May 22nd. They issued a "buy" rating on the stock. Northland Securities set a $50.00 price objective on Solaris Energy Infrastructure in a research report on Monday, August 4th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $45.00 target price (up from $41.00) on shares of Solaris Energy Infrastructure in a report on Friday, July 25th. Finally, Barclays boosted their target price on Solaris Energy Infrastructure from $39.00 to $44.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $43.67.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Institutional investors and hedge funds have recently made changes to their positions in the business. Encompass Capital Advisors LLC purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth about $78,967,000. Driehaus Capital Management LLC purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth about $44,073,000. Vanguard Group Inc. purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth about $35,060,000. Westwood Holdings Group Inc. purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth about $29,298,000. Finally, Millennium Management LLC purchased a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth about $24,335,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

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.