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 before the market opened 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.

Specifically, CFO Kyle S. Ramachandran bought 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were acquired at an average cost of $25.00 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William A. Zartler purchased 10,000 shares of the business's stock in a transaction on 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 purchase, the chief executive officer owned 1,049,227 shares of the company's stock, valued at approximately $26,052,306.41. This trade represents a 0.96% increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of research analysts have commented on SEI shares. Barclays raised their price target on shares of Solaris Energy Infrastructure from $39.00 to $44.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Citigroup began coverage on shares of Solaris Energy Infrastructure in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Piper Sandler cut their target price on shares of Solaris Energy Infrastructure from $51.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Wall Street Zen upgraded shares of Solaris Energy Infrastructure from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, 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 note on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. Based on data from MarketBeat, Solaris Energy Infrastructure currently has a consensus rating of "Buy" and an average price target of $43.67.

Solaris Energy Infrastructure Stock Up 7.1%

The company has a market cap of $2.25 billion, a price-to-earnings ratio of 56.41 and a beta of 1.15. The company has a current ratio of 3.11, a quick ratio of 2.98 and a debt-to-equity ratio of 0.76. The firm's fifty day moving average price is $29.87 and its 200-day moving average price is $26.09.

Solaris Energy Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.48 annualized dividend and a yield of 1.4%. Solaris Energy Infrastructure's payout ratio is 81.36%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its stake in shares of Solaris Energy Infrastructure by 17.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,199 shares of the company's stock worth $62,000 after purchasing an additional 333 shares during the last quarter. Cerity Partners LLC grew its position in shares of Solaris Energy Infrastructure by 3.3% during the 2nd quarter. Cerity Partners LLC now owns 12,551 shares of the company's stock worth $355,000 after purchasing an additional 397 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Solaris Energy Infrastructure by 1.4% during the 2nd quarter. California State Teachers Retirement System now owns 32,282 shares of the company's stock worth $913,000 after purchasing an additional 454 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Solaris Energy Infrastructure by 6.0% during the 2nd quarter. Ballentine Partners LLC now owns 10,210 shares of the company's stock worth $289,000 after purchasing an additional 575 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Solaris Energy Infrastructure by 20.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,724 shares of the company's stock worth $105,000 after purchasing an additional 623 shares in the last quarter. 67.44% of the stock is currently owned by institutional investors and hedge funds.

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.