Solaris Energy Infrastructure (NASDAQ:SEI) Trading Down 9.6% - Here's Why

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Get Free Report)'s share price fell 9.6% on Monday . The stock traded as low as $17.20 and last traded at $17.23. 415,256 shares traded hands during trading, a decline of 71% from the average session volume of 1,413,899 shares. The stock had previously closed at $19.05.

Analyst Ratings Changes

SEI has been the subject of several recent research reports. Northland Securities initiated coverage on shares of Solaris Energy Infrastructure in a research report on Tuesday. They issued an "outperform" rating and a $37.00 price target for the company. Piper Sandler initiated coverage on Solaris Energy Infrastructure in a research report on Thursday, February 20th. They set an "overweight" rating and a $37.00 target price for the company. Northland Capmk upgraded Solaris Energy Infrastructure to a "strong-buy" rating in a research report on Tuesday. Tudor Pickering raised Solaris Energy Infrastructure to a "strong-buy" rating in a report on Wednesday, January 22nd. Finally, Stifel Nicolaus upped their target price on shares of Solaris Energy Infrastructure from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $44.00.

Solaris Energy Infrastructure Stock Up 2.4 %

The company has a market cap of $1.38 billion, a P/E ratio of 46.85 and a beta of 1.12. 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 firm has a fifty day moving average price of $23.12 and a 200 day moving average price of $23.70.

Solaris Energy Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Tuesday, March 11th. Solaris Energy Infrastructure's dividend payout ratio is currently 97.96%.

Insider Buying and Selling 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 cost of $22.43 per share, with a total value of $89,720.00. Following the purchase, the director now owns 46,064 shares of the company's stock, valued at approximately $1,033,215.52. This represents a 9.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 21.20% of the company's stock.

Hedge Funds Weigh In On Solaris Energy Infrastructure

Hedge funds have recently added to or reduced their stakes in the company. Ritholtz Wealth Management bought a new stake in Solaris Energy Infrastructure during the 1st quarter worth about $2,784,000. Assenagon Asset Management S.A. bought a new stake in shares of Solaris Energy Infrastructure during the first quarter worth approximately $772,000. Congress Asset Management Co. acquired a new position in Solaris Energy Infrastructure in the first quarter valued at approximately $4,379,000. Riverview Trust Co bought a new position in Solaris Energy Infrastructure in the first quarter valued at approximately $47,000. Finally, Retirement Planning Group LLC bought a new position in Solaris Energy Infrastructure in the first quarter valued at approximately $802,000. Institutional investors 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.