Solaris Energy Infrastructure (NYSE:SEI) CFO Kyle Ramachandran Purchases 2,000 Shares

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 Ramachandran bought 2,000 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the chief financial officer owned 370,338 shares in the company, valued at approximately $9,258,450. The trade was a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Solaris Energy Infrastructure Stock Down 3.5%

Shares of NYSE SEI traded down $0.92 during trading hours on Tuesday, hitting $25.03. The stock had a trading volume of 2,253,249 shares, compared to its average volume of 1,546,369. The firm's 50-day moving average price is $30.06 and its two-hundred day moving average price is $26.19. Solaris Energy Infrastructure, Inc. has a 52 week low of $10.96 and a 52 week high of $39.03. The company has a market capitalization of $1.69 billion, a P/E ratio of 42.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.98 and a current ratio of 3.11.

Solaris Energy Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%. Solaris Energy Infrastructure's dividend payout ratio (DPR) is currently 81.36%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SEI. Wall Street Zen upgraded Solaris Energy Infrastructure from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Vertical Research began coverage on shares of Solaris Energy Infrastructure in a report on Wednesday, May 14th. They set a "buy" rating and a $36.00 price objective on the stock. Barclays increased their target price on shares of Solaris Energy Infrastructure from $39.00 to $44.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Piper Sandler lowered their price target on Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $45.00 price objective (up previously from $41.00) on shares of Solaris Energy Infrastructure in a research report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Solaris Energy Infrastructure has an average rating of "Buy" and an average target price of $43.67.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. bought a new stake in Solaris Energy Infrastructure during the 2nd quarter worth approximately $25,000. Strs Ohio acquired a new position in Solaris Energy Infrastructure in the first quarter worth $28,000. Wayfinding Financial LLC bought a new stake in shares of Solaris Energy Infrastructure during the first quarter worth $29,000. US Bancorp DE acquired a new stake in shares of Solaris Energy Infrastructure in the first quarter valued at $38,000. Finally, California State Teachers Retirement System bought a new position in shares of Solaris Energy Infrastructure in the fourth quarter valued at about $52,000. Institutional investors 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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