Solaris Energy Infrastructure (NASDAQ:SEI) Shares Gap Up on Insider Buying Activity

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI)’s share price gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $21.73, but opened at $22.35. Solaris Energy Infrastructure shares last traded at $22.71, with a volume of 113,434 shares.

Specifically, CEO William A. Zartler purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was bought at an average price of $21.78 per share, with a total value of $217,800.00. Following the completion of the purchase, the chief executive officer now directly owns 1,039,227 shares of the company’s stock, valued at $22,634,364.06. The trade was a 0.97% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

SEI has been the subject of a number of research reports. Citigroup initiated coverage on Solaris Energy Infrastructure in a report on Thursday. They issued a “buy” rating for the company. Piper Sandler upped their target price on shares of Solaris Energy Infrastructure from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Northland Capmk raised shares of Solaris Energy Infrastructure to a “strong-buy” rating in a report on Tuesday, April 22nd. Stifel Nicolaus raised their target price on Solaris Energy Infrastructure from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Finally, Northland Securities initiated coverage on Solaris Energy Infrastructure in a research report on Tuesday, April 22nd. They issued an “outperform” rating and a $37.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.14.

Solaris Energy Infrastructure Stock Performance

The business has a 50 day simple moving average of $20.99 and a 200 day simple moving average of $24.82. The company has a quick ratio of 3.40, a current ratio of 3.61 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.83 billion, a PE ratio of 61.47 and a beta of 1.01.

Solaris Energy Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, June 3rd. Solaris Energy Infrastructure’s payout ratio is 97.96%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Encompass Capital Advisors LLC purchased a new position in shares of Solaris Energy Infrastructure in the first quarter worth about $78,967,000. Driehaus Capital Management LLC purchased a new position in Solaris Energy Infrastructure during the first quarter worth approximately $44,073,000. Vanguard Group Inc. acquired a new position in shares of Solaris Energy Infrastructure in the 1st quarter valued at $35,060,000. Westwood Holdings Group Inc. purchased a new stake in shares of Solaris Energy Infrastructure in the 1st quarter valued at $29,298,000. Finally, Millennium Management LLC purchased a new stake in Solaris Energy Infrastructure during the 1st quarter worth about $24,335,000. 67.44% of the stock is currently owned by hedge funds and other 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.