Solaris Energy Infrastructure (NYSE:SEI) Shares Up 6% on Analyst Upgrade
by Jessica Moore · The Cerbat GemSolaris Energy Infrastructure, Inc. (NYSE:SEI – Get Free Report)’s share price traded up 6% during mid-day trading on Wednesday after Needham & Company LLC raised their price target on the stock from $98.00 to $104.00. Needham & Company LLC currently has a buy rating on the stock. Solaris Energy Infrastructure traded as high as $65.36 and last traded at $65.32. 151,971 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 2,756,702 shares. The stock had previously closed at $61.62.
SEI has been the subject of several other research reports. Barclays lifted their price objective on shares of Solaris Energy Infrastructure from $86.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Wolfe Research initiated coverage on shares of Solaris Energy Infrastructure in a research report on Monday, July 6th. They set an “outperform” rating and a $120.00 target price on the stock. Northland Securities set a $104.00 target price on shares of Solaris Energy Infrastructure in a report on Friday, June 12th. Piper Sandler lifted their price target on shares of Solaris Energy Infrastructure from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Finally, Wells Fargo & Company upgraded Solaris Energy Infrastructure from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $82.00 to $73.00 in a research note on Monday, August 3rd. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.
View Our Latest Report on Solaris Energy Infrastructure
Insiders Place Their Bets
In other news, Director A. Teague acquired 3,900 shares of Solaris Energy Infrastructure stock in a transaction on Tuesday, September 8th. The shares were purchased at an average cost of $64.21 per share, for a total transaction of $250,419.00. Following the completion of the purchase, the director directly owned 116,865 shares of the company’s stock, valued at approximately $7,503,901.65. This represents a 3.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 20.23% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Solaris Energy Infrastructure
Several institutional investors and hedge funds have recently added to or reduced their stakes in SEI. Situational Awareness LP increased its stake in shares of Solaris Energy Infrastructure by 2.2% in the 2nd quarter. Situational Awareness LP now owns 1,129,621 shares of the company’s stock valued at $90,889,000 after purchasing an additional 24,070 shares during the last quarter. Jennison Associates LLC boosted its stake in Solaris Energy Infrastructure by 215.1% in 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. Dimensional Fund Advisors LP grew its position in Solaris Energy Infrastructure by 19.6% in the first quarter. Dimensional Fund Advisors LP now owns 871,462 shares of the company’s stock valued at $49,239,000 after acquiring an additional 142,973 shares during the last quarter. Ranger Investment Management L.P. acquired a new position in Solaris Energy Infrastructure during the second quarter worth about $46,967,000. Finally, Bank of New York Mellon Corp acquired a new position in Solaris Energy Infrastructure during the second quarter worth about $30,881,000. 67.44% of the stock is currently owned by institutional investors.
Solaris Energy Infrastructure Price Performance
The business’s fifty day moving average price is $58.48 and its 200 day moving average price is $64.03. The stock has a market cap of $5.01 billion, a P/E ratio of 76.99 and a beta of 1.25. The company has a debt-to-equity ratio of 2.23, a current ratio of 4.12 and a quick ratio of 4.03.
Solaris Energy Infrastructure (NYSE:SEI – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The firm had revenue of $219.40 million for the quarter. Solaris Energy Infrastructure had a net margin of 7.19% and a return on equity of 13.26%. Sell-side analysts forecast that Solaris Energy Infrastructure, Inc. will post 0.94 EPS for the current fiscal year.
About Solaris Energy Infrastructure
Solaris Energy Infrastructure, Inc (NYSE: SEI) is an energy infrastructure company that provides mobile, scalable power generation and management solutions. The company designs, manufactures, and deploys equipment intended to support customers that require reliable, flexible power in energy-intensive operating environments.
Solaris has historically served the North American oil and natural gas industry, supplying infrastructure used in well completion and other field operations. Its offerings include mobile power-generation systems, electrical distribution equipment, and related services designed to help customers manage on-site power requirements and reduce reliance on traditional diesel-based solutions.
The company has also expanded its focus beyond oilfield services to address growing power needs associated with data centers and other large-scale, power-intensive facilities.