Solaris Energy Infrastructure (NYSE:SEI) Shares Gap Up After Insider Buying Activity

Solaris Energy Infrastructure, Inc. (NYSE:SEI)’s stock price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $24.92, but opened at $26.19. Solaris Energy Infrastructure shares last traded at $29.14, with a volume of 1,059,750 shares trading hands.

Specifically, CFO Kyle S. Ramachandran purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was acquired at an average cost of $25.00 per share, with a total value of $50,000.00. Following the acquisition, the chief financial officer owned 370,338 shares in the company, valued at approximately $9,258,450. This trade represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William A. Zartler purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were purchased at an average cost of $24.83 per share, with a total value of $248,300.00. Following the completion of the acquisition, the chief executive officer owned 1,049,227 shares in the company, valued at approximately $26,052,306.41. This represents a 0.96% increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

A number of research firms have commented on SEI. Raymond James Financial reiterated an “outperform” rating and set a $38.00 price objective (down from $39.00) on shares of Solaris Energy Infrastructure in a research note on Wednesday, July 23rd. Vertical Research began coverage on shares of Solaris Energy Infrastructure in a research note on Wednesday, May 14th. They set a “buy” rating and a $36.00 price objective on the stock. Barclays increased their price objective on shares of Solaris Energy Infrastructure from $39.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Piper Sandler reduced their price objective on shares of Solaris Energy Infrastructure from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Finally, Wall Street Zen upgraded shares of Solaris Energy Infrastructure from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $43.67.

Solaris Energy Infrastructure Stock Performance

The stock’s 50-day moving average price is $29.94 and its 200-day moving average price is $26.21. The company has a current ratio of 3.11, a quick ratio of 2.98 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $1.98 billion, a P/E ratio of 49.76 and a beta of 1.15.

Solaris Energy Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 16th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 16th. Solaris Energy Infrastructure’s dividend payout ratio (DPR) is presently 81.36%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SEI. California State Teachers Retirement System bought a new position in shares of Solaris Energy Infrastructure in the 4th quarter worth about $52,000. GAMMA Investing LLC bought a new position in shares of Solaris Energy Infrastructure in the 1st quarter worth about $435,000. Rhumbline Advisers bought a new position in shares of Solaris Energy Infrastructure in the 1st quarter worth about $962,000. Retirement Planning Group LLC bought a new position in shares of Solaris Energy Infrastructure in the 1st quarter worth about $802,000. Finally, Riverview Trust Co bought a new position in shares of Solaris Energy Infrastructure in the 1st quarter worth about $47,000. 67.44% of the stock is currently owned by institutional investors.

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.