Solaris Energy Infrastructure (NYSE:SEI) Shares Gap Up After Insider Buying Activity

Key Points

• Solaris Energy Infrastructure's share price jumped from $24.92 to $26.19 after insider buying activity, with the stock last trading at $29.14.
• CFO Kyle S. Ramachandran and CEO William A. Zartler both purchased shares on September 9, reflecting confidence in the company's future.
• The company recently announced a quarterly dividend of $0.12 per share, with an annualized yield of 1.6%, set to be paid on September 26.

Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report)'s share price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $24.92, but opened at $26.19. Solaris Energy Infrastructure shares last traded at $29.14, with a volume of 1,059,750 shares trading hands.

Specifically, CFO Kyle S. Ramachandran purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was bought 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 directly owned 370,338 shares in the company, valued at $9,258,450. This represents a 0.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William A. Zartler bought 10,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were acquired at an average price of $24.83 per share, with a total value of $248,300.00. Following the completion of the transaction, the chief executive officer owned 1,049,227 shares of the company's stock, valued at approximately $26,052,306.41. The trade was a 0.96% increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

SEI has been the topic of several research reports. Barclays raised their price target on Solaris Energy Infrastructure from $39.00 to $44.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Citigroup assumed coverage on Solaris Energy Infrastructure in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. Vertical Research assumed coverage on Solaris Energy Infrastructure in a research note on Wednesday, May 14th. They set a "buy" rating and a $36.00 price target on the stock. Stifel Nicolaus reiterated a "buy" rating and issued a $45.00 target price (up previously from $41.00) on shares of Solaris Energy Infrastructure in a research report on Friday, July 25th. Finally, Northland Securities set a $50.00 target price on Solaris Energy Infrastructure in a research report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $43.67.

Solaris Energy Infrastructure Stock Up 17.6%

The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 49.68 and a beta of 1.15. The business has a 50 day simple moving average of $29.98 and a 200-day simple moving average of $26.19. 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 company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio (DPR) is 81.36%.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Several hedge funds and other institutional investors have recently made changes to their positions in SEI. Assetmark Inc. purchased a new position in shares of Solaris Energy Infrastructure in the 2nd quarter valued at about $25,000. Strs Ohio purchased a new stake in Solaris Energy Infrastructure in the first quarter valued at approximately $28,000. Wayfinding Financial LLC purchased a new stake in shares of Solaris Energy Infrastructure during the first quarter worth approximately $29,000. US Bancorp DE purchased a new stake in shares of Solaris Energy Infrastructure during the first quarter worth approximately $38,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Solaris Energy Infrastructure during the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 67.44% of the company's stock.

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.

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