Solaris Energy Infrastructure (NASDAQ:SEI) Shares Up 4.7% on Insider Buying Activity

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI) shot up 4.7% on Friday following insider buying activity. The stock traded as high as $26.48 and last traded at $26.63. 698,677 shares changed hands during trading, a decline of 33% from the average session volume of 1,043,023 shares. The stock had previously closed at $25.43.

Specifically, CEO William A. Zartler acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average cost of $21.78 per share, for a total transaction of $217,800.00. Following the transaction, the chief executive officer now directly owns 1,039,227 shares in the company, valued at approximately $22,634,364.06. This represents a 0.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SEI shares. Northland Securities started coverage on shares of Solaris Energy Infrastructure in a research report on Tuesday, April 22nd. They set an “outperform” rating and a $37.00 target price on the stock. Piper Sandler boosted their target price on shares of Solaris Energy Infrastructure from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Citigroup started coverage on shares of Solaris Energy Infrastructure in a research report on Thursday. They set a “buy” rating on the stock. Northland Capmk upgraded shares of Solaris Energy Infrastructure to a “strong-buy” rating in a research report on Tuesday, April 22nd. Finally, Janney Montgomery Scott started coverage on shares of Solaris Energy Infrastructure in a research report on Tuesday, February 25th. They set a “buy” rating and a $57.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Solaris Energy Infrastructure currently has an average rating of “Buy” and a consensus target price of $43.14.

Solaris Energy Infrastructure Stock Up 6.3%

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

Solaris Energy Infrastructure Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $0.12 per share. 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 dividend payout ratio (DPR) is presently 97.96%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Encompass Capital Advisors LLC acquired a new position in shares of Solaris Energy Infrastructure during the 1st quarter worth $78,967,000. Driehaus Capital Management LLC acquired a new position in Solaris Energy Infrastructure in the 1st quarter valued at about $44,073,000. Vanguard Group Inc. acquired a new position in Solaris Energy Infrastructure in the 1st quarter valued at about $35,060,000. Westwood Holdings Group Inc. acquired a new position in Solaris Energy Infrastructure in the 1st quarter valued at about $29,298,000. Finally, Millennium Management LLC acquired a new position in Solaris Energy Infrastructure in the 1st quarter valued at about $24,335,000. Institutional investors and hedge funds own 67.44% 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.