Solaris Energy Infrastructure (NYSE:SEI) Shares Down 13.5% – Here’s What Happened

by · The Markets Daily

Shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI – Get Free Report) dropped 13.5% during trading on Friday . The stock traded as low as $46.72 and last traded at $46.79. Approximately 1,700,886 shares were traded during trading, a decline of 21% from the average daily volume of 2,151,426 shares. The stock had previously closed at $54.08.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SEI. Weiss Ratings reissued a “buy (b-)” rating on shares of Solaris Energy Infrastructure in a report on Monday. Northland Securities set a $61.00 price objective on shares of Solaris Energy Infrastructure in a report on Thursday, October 9th. Zacks Research cut Solaris Energy Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Citigroup increased their target price on Solaris Energy Infrastructure from $38.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Piper Sandler upped their price target on shares of Solaris Energy Infrastructure from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Solaris Energy Infrastructure has an average rating of “Buy” and an average target price of $52.80.

Read Our Latest Stock Report on Solaris Energy Infrastructure

Solaris Energy Infrastructure Trading Down 12.0%

The company’s 50 day simple moving average is $49.55 and its 200-day simple moving average is $37.24. The firm has a market cap of $3.26 billion, a P/E ratio of 50.65 and a beta of 1.14. The company has a quick ratio of 2.28, a current ratio of 2.39 and a debt-to-equity ratio of 0.69.

Solaris Energy Infrastructure (NYSE:SEI – Get Free Report) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08. The firm had revenue of $166.84 million during the quarter, compared to analyst estimates of $142.82 million. Solaris Energy Infrastructure had a return on equity of 9.38% and a net margin of 7.02%. As a group, research analysts predict that Solaris Energy Infrastructure, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity at Solaris Energy Infrastructure

In other news, major shareholder Ktr Management Company, Llc sold 2,114,783 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $50.15, for a total transaction of $106,056,367.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 21.20% of the company’s stock.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. bought a new position in Solaris Energy Infrastructure in the second quarter worth about $25,000. Strs Ohio purchased a new stake in Solaris Energy Infrastructure during the first quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Solaris Energy Infrastructure in the third quarter worth $31,000. US Bancorp DE acquired a new position in shares of Solaris Energy Infrastructure during the first quarter worth $38,000. Finally, Larson Financial Group LLC increased its holdings in shares of Solaris Energy Infrastructure by 363.0% during the third quarter. Larson Financial Group LLC now owns 1,014 shares of the company’s stock valued at $41,000 after acquiring an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

About Solaris Energy Infrastructure

(Get Free Report)

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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