Solaris Energy Infrastructure (NYSE:SEI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Key Points

• Needham raised Solaris Energy Infrastructure’s price target to $98 from $97 and maintained a “buy” rating, implying 68.73% upside from the $58.08 share price. The stock has a consensus “Moderate Buy” rating and an average target of $85.58.
• Solaris exceeded quarterly earnings expectations, reporting $0.39 EPS versus the $0.31 consensus and revenue of $219.4 million. Analysts forecast full-year EPS of $1.01.
• Insiders sold 42,752 shares worth approximately $3.18 million over the past 90 days, while institutional investors own 67.44% of the company.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) had its target price raised by stock analysts at Needham & Company LLC from $97.00 to $98.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price objective would indicate a potential upside of 68.73% from the stock's current price.

SEI has been the topic of several other reports. Wells Fargo & Company upgraded Solaris Energy Infrastructure from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $82.00 to $73.00 in a report on Monday. Morgan Stanley boosted their price objective 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. Stifel Nicolaus raised their target price on shares of Solaris Energy Infrastructure from $71.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Raymond James Financial reiterated an "outperform" rating and issued a $82.00 price target on shares of Solaris Energy Infrastructure in a report on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of Solaris Energy Infrastructure from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 17th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Solaris Energy Infrastructure currently has a consensus rating of "Moderate Buy" and an average price target of $85.58.

Solaris Energy Infrastructure Trading Up 1.9%

Shares of SEI opened at $58.08 on Friday. The stock's fifty day simple moving average is $67.64 and its 200-day simple moving average is $63.17. The firm has a market capitalization of $4.27 billion, a PE ratio of 68.33 and a beta of 1.23. Solaris Energy Infrastructure has a 12-month low of $24.57 and a 12-month high of $86.19. 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 announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. Solaris Energy Infrastructure had a return on equity of 14.08% and a net margin of 7.19%.The firm had revenue of $219.40 million during the quarter. As a group, research analysts predict that Solaris Energy Infrastructure will post 1.01 earnings per share for the current year.

Insider Activity at Solaris Energy Infrastructure

In related news, insider Christopher M. Powell sold 36,852 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $74.63, for a total transaction of $2,750,264.76. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher P. Wirtz sold 700 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $77.22, for a total transaction of $54,054.00. Following the sale, the chief accounting officer directly owned 36,085 shares in the company, valued at $2,786,483.70. This trade represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 42,752 shares of company stock valued at $3,183,295. Insiders own 20.23% of the company's stock.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada bought a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth approximately $477,000. AQR Capital Management LLC acquired a new position in shares of Solaris Energy Infrastructure in the first quarter valued at $2,475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Solaris Energy Infrastructure in the first quarter valued at about $396,000. Goldman Sachs Group Inc. acquired a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth about $13,714,000. Finally, Strs Ohio bought a new stake in shares of Solaris Energy Infrastructure during the 1st quarter worth about $28,000. Institutional investors own 67.44% of the company's stock.

Solaris Energy Infrastructure Company Profile

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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