Solaris Energy Infrastructure (NASDAQ:SEI) Stock Price Up 7.4% – Here’s What Happened

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI)’s share price rose 7.4% on Wednesday . The company traded as high as $22.78 and last traded at $22.74. Approximately 324,170 shares changed hands during trading, a decline of 64% from the average daily volume of 910,540 shares. The stock had previously closed at $21.18.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Tudor Pickering upgraded shares of Solaris Energy Infrastructure to a “strong-buy” rating in a research note on Wednesday, January 22nd. Piper Sandler started coverage on Solaris Energy Infrastructure in a research report on Thursday, February 20th. They set an “overweight” rating and a $37.00 target price for the company. Stifel Nicolaus upped their target price on Solaris Energy Infrastructure from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. 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 price objective for the company. Finally, Tudor, Pickering, Holt & Co. started coverage on shares of Solaris Energy Infrastructure in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $41.00 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $45.75.

Solaris Energy Infrastructure Trading Up 5.9 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 3.61 and a quick ratio of 3.40. The stock has a market cap of $1.51 billion, a PE ratio of 50.98 and a beta of 1.32. The firm has a fifty day moving average price of $27.03.

Solaris Energy Infrastructure Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Tuesday, March 11th. Solaris Energy Infrastructure’s payout ratio is currently 97.96%.

Insider Transactions at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, Director Laurie H. Argo bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $22.43 per share, for a total transaction of $89,720.00. Following the transaction, the director now directly owns 46,064 shares in the company, valued at $1,033,215.52. This trade represents a 9.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 34.71% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Solaris Energy Infrastructure stock. California State Teachers Retirement System bought a new stake in shares of Solaris Energy Infrastructure, Inc. (NASDAQ:SEI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,822 shares of the company’s stock, valued at approximately $52,000. 67.44% of the stock is currently owned by institutional investors.

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.