Solaris Energy Infrastructure (NYSE:SEI) Shares Up 4.7% - Here's What Happened

Key Points

• Solaris Energy Infrastructure (NYSE:SEI) rose 4.7% in intraday trading, reaching as high as $72.47 after closing at $68.26 the prior day.
• Several analysts raised their price targets on the stock, including Stifel to $93 and Northland to $104, and the consensus rating remains Moderate Buy with an average target price of $86.25.
• The company recently beat quarterly earnings expectations, reporting $0.44 EPS versus the expected $0.26, while insiders and institutions have remained active in the stock through recent buying and selling.

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report) shot up 4.7% during mid-day trading on Friday . The company traded as high as $72.47 and last traded at $71.46. 592,288 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 2,588,592 shares. The stock had previously closed at $68.26.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Solaris Energy Infrastructure from $71.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Northland Securities set a $104.00 target price on shares of Solaris Energy Infrastructure in a research note on Friday, June 12th. Morgan Stanley upped their price target on Solaris Energy Infrastructure from $81.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Citigroup lifted their target price on shares of Solaris Energy Infrastructure from $61.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Finally, Zacks Research cut Solaris Energy Infrastructure from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 30th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $86.25.

Solaris Energy Infrastructure Stock Up 3.6%

The company's fifty day moving average is $73.86 and its 200-day moving average is $61.86. The company has a market cap of $5.20 billion, a PE ratio of 79.44 and a beta of 1.17. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 1.23.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.26 by $0.18. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. The firm had revenue of $196.24 million during the quarter. On average, analysts predict that Solaris Energy Infrastructure, Inc. will post 1.09 EPS for the current year.

Insider Activity at Solaris Energy Infrastructure

In other news, Director Aj Teague acquired 2,750 shares of the business's stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $72.98 per share, for a total transaction of $200,695.00. Following the completion of the transaction, the director directly owned 11,060 shares in the company, valued at approximately $807,158.80. This trade represents a 33.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher M. Powell sold 36,852 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $74.63, for a total value of $2,750,264.76. Following the completion of the sale, the insider directly owned 114,117 shares in the company, valued at approximately $8,516,551.71. The trade was a 24.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,099,593 shares of company stock worth $297,782,099 in the last three months. Corporate insiders own 20.23% of the company's stock.

Institutional Trading of Solaris Energy Infrastructure

A number of large investors have recently made changes to their positions in the business. Balefire LLC bought a new stake in shares of Solaris Energy Infrastructure during the second quarter worth $223,000. Wealth High Governance Asset Management Ltda. boosted its stake in Solaris Energy Infrastructure by 35.0% in the 1st quarter. Wealth High Governance Asset Management Ltda. now owns 104,336 shares of the company's stock worth $5,896,000 after purchasing an additional 27,066 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Solaris Energy Infrastructure by 15.8% during the 1st quarter. Glenmede Trust Co. NA now owns 16,987 shares of the company's stock valued at $960,000 after purchasing an additional 2,316 shares during the last quarter. Amundi boosted its position in Solaris Energy Infrastructure by 51.7% in the first quarter. Amundi now owns 8,497 shares of the company's stock valued at $480,000 after buying an additional 2,895 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Solaris Energy Infrastructure by 24.2% during the first quarter. California State Teachers Retirement System now owns 51,791 shares of the company's stock worth $2,927,000 after purchasing an additional 10,083 shares during the last quarter. 67.44% of the stock is currently owned by institutional investors.

About Solaris Energy Infrastructure

Solaris Energy Infrastructure Fund Inc NYSE: SEI is a closed-end management investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund pursues its objective by investing primarily in equity securities of energy infrastructure companies, including master limited partnerships (MLPs) and other midstream entities. SEI is externally managed by Solaris Asset Management LP, a firm specializing in energy infrastructure investments.

The fund’s portfolio targets businesses involved in the gathering, processing, transportation, storage and terminalling of oil, natural gas and refined products.

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