Solaris Energy Infrastructure (NYSE:SEI) Given New $126.00 Price Target at Needham & Company LLC

Solaris Energy Infrastructure (NYSE:SEI) had its target price raised by research analysts at Needham & Company LLC from $104.00 to $126.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC‘s price target points to a potential upside of 104.41% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Citigroup boosted their price target on shares of Solaris Energy Infrastructure from $100.00 to $104.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler increased their price objective on shares of Solaris Energy Infrastructure from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Solaris Energy Infrastructure in a research note on Wednesday, November 4th. Morgan Stanley boosted their target price on Solaris Energy Infrastructure from $90.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Finally, Northland Securities set a $111.00 target price on Solaris Energy Infrastructure in a research report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $100.38.

Solaris Energy Infrastructure Price Performance

Shares of SEI opened at $61.64 on Wednesday. Solaris Energy Infrastructure has a one year low of $38.50 and a one year high of $86.19. The stock’s fifty day moving average is $66.17 and its 200-day moving average is $63.42. The company has a debt-to-equity ratio of 1.68, a quick ratio of 4.03 and a current ratio of 2.10. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 38.41 and a beta of 1.40.

Solaris Energy Infrastructure (NYSE:SEI) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.23. The business had revenue of $341.09 million during the quarter. Solaris Energy Infrastructure had a net margin of 7.99% and a return on equity of 12.82%. Equities analysts anticipate that Solaris Energy Infrastructure will post 1.38 EPS for the current year.

Insider Buying and Selling at Solaris Energy Infrastructure

In other Solaris Energy Infrastructure news, Director A. Teague acquired 3,900 shares of the stock in a transaction dated Tuesday, September 8th. The shares were bought at an average price of $64.21 per share, with a total value of $250,419.00. Following the purchase, the director directly owned 116,865 shares of the company’s stock, valued at approximately $7,503,901.65. This trade represents a 3.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 20.23% of the company’s stock.

Hedge Funds Weigh In On Solaris Energy Infrastructure

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its stake in Solaris Energy Infrastructure by 215.1% during the first quarter. Jennison Associates LLC now owns 1,179,736 shares of the company’s stock valued at $66,667,000 after buying an additional 805,319 shares in the last quarter. Two Seas Capital LP acquired a new position in shares of Solaris Energy Infrastructure in the third quarter worth about $56,007,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Solaris Energy Infrastructure by 146.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,029,000 shares of the company’s stock worth $73,244,000 after acquiring an additional 611,000 shares in the last quarter. Ranger Investment Management L.P. purchased a new position in shares of Solaris Energy Infrastructure in the second quarter worth approximately $46,967,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Solaris Energy Infrastructure in the second quarter worth approximately $30,881,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

About Solaris Energy Infrastructure

Solaris Energy Infrastructure, Inc. provides equipment and services for energy production and power generation. Its offerings include natural gas-fueled power systems and related equipment, as well as mobile systems used to store, transport and deliver proppant at oil and gas wells. The company was established as Solaris Oilfield Infrastructure and later adopted its current name as its business expanded beyond oilfield logistics. Its oilfield services primarily support operators in U.S. shale basins, while its power solutions serve customers seeking scalable power generation.