Solaris Energy Infrastructure (NYSE:SEI) Stock Price Down 6.4% - Should You Sell?

Key Points

• Solaris Energy Infrastructure shares dropped 6.4% to $27.96, with trading volume 13% lower than the average, suggesting a potential sell-off among investors.
• Despite the recent decline, analysts have set an average price target of $43.67, with ratings including two Strong Buy and ten Buy recommendations from research firms.
• The company announced a quarterly dividend of $0.12 per share with a yield of 1.8%, set to be paid on September 26th.

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Get Free Report) fell 6.4% during mid-day trading on Wednesday . The stock traded as low as $27.96 and last traded at $27.96. 1,327,830 shares were traded during mid-day trading, a decline of 13% from the average session volume of 1,524,896 shares. The stock had previously closed at $29.87.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SEI. Barclays upped their price objective on Solaris Energy Infrastructure from $39.00 to $44.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Raymond James Financial reissued an "outperform" rating and set a $38.00 price target (down from $39.00) on shares of Solaris Energy Infrastructure in a report on Wednesday, July 23rd. Citigroup started coverage on Solaris Energy Infrastructure in a report on Thursday, May 22nd. They set a "buy" rating on the stock. Northland Securities set a $50.00 price target on Solaris Energy Infrastructure in a report on Monday, August 4th. Finally, Stifel Nicolaus reissued a "buy" rating and set a $45.00 price target (up from $41.00) on shares of Solaris Energy Infrastructure in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $43.67.

Solaris Energy Infrastructure Price Performance

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 has a market cap of $1.75 billion, a PE ratio of 43.97 and a beta of 1.15. The stock has a 50 day simple moving average of $30.06 and a 200-day simple moving average of $26.19.

Solaris Energy Infrastructure Dividend Announcement

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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure's dividend payout ratio is presently 81.36%.

Insider Activity

In related news, insider Christopher M. Powell sold 12,750 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $30.00, for a total value of $382,500.00. Following the sale, the insider directly owned 130,615 shares in the company, valued at approximately $3,918,450. The trade was a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edgar R. Jr. Giesinger sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $28.86, for a total value of $288,600.00. Following the transaction, the director owned 90,956 shares of the company's stock, valued at $2,624,990.16. This represents a 9.91% decrease in their position. The disclosure for this sale can be found here. Insiders own 21.20% of the company's stock.

Institutional Trading of Solaris Energy Infrastructure

Institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC bought a new stake in shares of Solaris Energy Infrastructure during the first quarter valued at approximately $264,000. GW&K Investment Management LLC bought a new position in Solaris Energy Infrastructure in the first quarter worth approximately $9,437,000. Informed Momentum Co LLC bought a new position in Solaris Energy Infrastructure in the first quarter worth approximately $2,458,000. Acuitas Investments LLC bought a new position in Solaris Energy Infrastructure in the first quarter worth approximately $3,728,000. Finally, Russell Investments Group Ltd. bought a new position in Solaris Energy Infrastructure in the first quarter worth approximately $1,695,000. 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.