Solaris Energy Infrastructure (NASDAQ:SEI) Stock Price Down 8.3% – Here’s What Happened

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI)’s stock price traded down 8.3% during trading on Tuesday . The company traded as low as $20.32 and last traded at $19.95. 80,847 shares traded hands during trading, a decline of 91% from the average session volume of 904,286 shares. The stock had previously closed at $21.76.

Analysts Set New Price Targets

SEI has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on shares of Solaris Energy Infrastructure from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Piper Sandler initiated coverage on Solaris Energy Infrastructure in a report on Thursday, February 20th. They issued an “overweight” rating and a $37.00 target price for the company. Tudor, Pickering, Holt & Co. began coverage on Solaris Energy Infrastructure in a research report on Wednesday, January 22nd. They set a “buy” rating and a $41.00 target price for the company. Tudor Pickering upgraded Solaris Energy Infrastructure to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Janney Montgomery Scott initiated coverage on Solaris Energy Infrastructure in a report on Tuesday, February 25th. They set a “buy” rating and a $57.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $45.75.

Solaris Energy Infrastructure Stock Down 1.7 %

The firm has a market cap of $1.44 billion, a P/E ratio of 48.61 and a beta of 1.32. The company has a current ratio of 3.61, a quick ratio of 3.40 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $27.23.

Solaris Energy Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.25%. Solaris Energy Infrastructure’s payout ratio is 97.96%.

Insider Activity at Solaris Energy Infrastructure

In other news, Director Laurie H. Argo purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $22.43 per share, for a total transaction of $89,720.00. Following the completion of the acquisition, the director now directly owns 46,064 shares in the company, valued at approximately $1,033,215.52. The trade was a 9.51 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 34.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Solaris Energy Infrastructure

An institutional investor recently bought a new position in Solaris Energy Infrastructure stock. California State Teachers Retirement System acquired a new position in shares of Solaris Energy Infrastructure, Inc. (NASDAQ:SEI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,822 shares of the company’s stock, valued at approximately $52,000. 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.