Solaris Energy Infrastructure (NASDAQ:SEI) Trading Down 8.3% – Here’s What Happened

Shares of Solaris Energy Infrastructure, Inc. (NASDAQ:SEI) traded down 8.3% during mid-day trading on Thursday . The company traded as low as $24.16 and last traded at $23.13. 40,147 shares changed hands during trading, a decline of 97% from the average session volume of 1,212,448 shares. The stock had previously closed at $25.24.

Analyst Upgrades and Downgrades

SEI has been the subject of several research reports. Janney Montgomery Scott assumed coverage on shares of Solaris Energy Infrastructure in a research note on Tuesday, February 25th. They issued a “buy” rating and a $57.00 price objective for the company. Piper Sandler began coverage on Solaris Energy Infrastructure in a research note on Thursday, February 20th. They issued an “overweight” rating and a $37.00 price target for the company. Tudor, Pickering, Holt & Co. assumed coverage on Solaris Energy Infrastructure in a research report on Wednesday, January 22nd. They set a “buy” rating and a $41.00 price objective on the stock. Stifel Nicolaus upped their target price on Solaris Energy Infrastructure from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Finally, Tudor Pickering raised Solaris Energy Infrastructure to a “strong-buy” rating in a research note on Wednesday, January 22nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $45.75.

Solaris Energy Infrastructure Price Performance

The company has a market cap of $1.51 billion, a price-to-earnings ratio of 51.31 and a beta of 1.32. The stock has a fifty day simple moving average of $29.07. The company has a quick ratio of 3.40, a current ratio of 3.61 and a debt-to-equity ratio of 0.77.

Solaris Energy Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Tuesday, March 11th. Solaris Energy Infrastructure’s dividend payout ratio is currently 97.96%.

Insider Transactions at Solaris Energy Infrastructure

In other news, Director Laurie H. Argo bought 4,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $22.43 per share, for a total transaction of $89,720.00. Following the completion of the acquisition, the director now directly owns 46,064 shares in the company, valued at approximately $1,033,215.52. This trade represents a 9.51 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 34.71% of the company’s stock.

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.