Solaris Energy Infrastructure (NYSE:SEI) Shares Down 5.8% After Analyst Downgrade

Solaris Energy Infrastructure, Inc. (NYSE:SEI) shares were down 5.8% on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $42.64 and last traded at $43.10. Approximately 262,395 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 2,087,712 shares. The stock had previously closed at $45.73.

Several other equities research analysts have also recently issued reports on the company. Citigroup lifted their price objective on Solaris Energy Infrastructure from $38.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Barclays raised their target price on Solaris Energy Infrastructure from $44.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Weiss Ratings upgraded Solaris Energy Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Northland Securities set a $61.00 price objective on Solaris Energy Infrastructure in a research note on Thursday, October 9th. Finally, Wall Street Zen raised shares of Solaris Energy Infrastructure from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Solaris Energy Infrastructure currently has a consensus rating of “Buy” and a consensus target price of $51.11.

Insider Activity

In related news, insider Christopher M. Powell sold 12,750 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $30.00, for a total value of $382,500.00. Following the transaction, the insider directly owned 130,615 shares of the company’s stock, valued at $3,918,450. This trade represents a 8.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kyle S. Ramachandran purchased 2,000 shares of Solaris Energy Infrastructure stock in a transaction that occurred on Tuesday, September 9th. The stock was bought at an average cost of $25.00 per share, with a total value of $50,000.00. Following the completion of the transaction, the chief financial officer owned 370,338 shares of the company’s stock, valued at $9,258,450. The trade was a 0.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 2,137,533 shares of company stock valued at $106,727,467. Insiders own 21.20% of the company’s stock.

Institutional Trading of Solaris Energy Infrastructure

Several institutional investors and hedge funds have recently made changes to their positions in SEI. Bank of New York Mellon Corp purchased a new position in Solaris Energy Infrastructure during the 1st quarter worth approximately $5,137,000. Cerity Partners LLC acquired a new stake in shares of Solaris Energy Infrastructure in the first quarter valued at approximately $264,000. Arizona State Retirement System purchased a new position in shares of Solaris Energy Infrastructure during the first quarter worth approximately $213,000. New York State Common Retirement Fund purchased a new position in shares of Solaris Energy Infrastructure during the first quarter worth approximately $209,000. Finally, CWM LLC purchased a new stake in Solaris Energy Infrastructure in the 1st quarter valued at $236,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Solaris Energy Infrastructure Stock Performance

The stock has a market cap of $2.83 billion, a PE ratio of 45.41 and a beta of 1.12. The firm’s 50-day moving average is $45.76 and its 200 day moving average is $34.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.28 and a current ratio of 2.39.

Solaris Energy Infrastructure (NYSE:SEI) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. Solaris Energy Infrastructure had a net margin of 7.02% and a return on equity of 9.38%. The company had revenue of $166.84 million for the quarter, compared to analyst estimates of $142.82 million. As a group, research analysts anticipate that Solaris Energy Infrastructure, Inc. will post 0.36 EPS for the current year.

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.