Solaris Energy Infrastructure (NASDAQ:SEI) Shares Down 8.3% – Here’s Why

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

Wall Street Analyst Weigh In

A number of brokerages have commented on SEI. Tudor Pickering upgraded shares of Solaris Energy Infrastructure to a “strong-buy” rating in a research note on Wednesday, January 22nd. Piper Sandler assumed coverage on Solaris Energy Infrastructure in a report on Thursday, February 20th. They set an “overweight” rating and a $37.00 price target for the company. Tudor, Pickering, Holt & Co. assumed coverage on Solaris Energy Infrastructure in a research report on Wednesday, January 22nd. They set a “buy” rating and a $41.00 price target on the stock. Stifel Nicolaus raised their price objective on Solaris Energy Infrastructure from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, Janney Montgomery Scott started coverage on Solaris Energy Infrastructure in a report on Tuesday, February 25th. They set a “buy” rating and a $57.00 target price on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $45.75.

Solaris Energy Infrastructure Price Performance

The stock has a market capitalization of $1.54 billion, a P/E ratio of 52.21 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’s 50-day moving average is $26.79.

Solaris Energy Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Tuesday, March 11th. Solaris Energy Infrastructure’s payout ratio is 97.96%.

Insider Activity

In related news, Director Laurie H. Argo purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $22.43 per share, for a total transaction of $89,720.00. Following the completion of the purchase, the director now owns 46,064 shares in the company, valued at approximately $1,033,215.52. This represents a 9.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 34.71% of the stock is currently owned by company insiders.

Institutional Trading of 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) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,822 shares of the company’s stock, valued at approximately $52,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

About Solaris Energy Infrastructure

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.