Solaris Energy Infrastructure (NASDAQ:SEI) Shares Down 5.3% - Here's What Happened

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Get Free Report) shares traded down 5.3% during mid-day trading on Thursday . The company traded as low as $23.12 and last traded at $23.00. 528,048 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 868,764 shares. The stock had previously closed at $24.30.

Analyst Ratings Changes

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

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Solaris Energy Infrastructure Price Performance

The firm has a 50 day moving average price of $28.14. The company has a market capitalization of $1.60 billion, a P/E ratio of 54.23 and a beta of 1.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.61 and a quick ratio of 3.40.

Solaris Energy Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.48 dividend on an annualized basis and a yield of 2.01%. Solaris Energy Infrastructure's payout ratio is 97.96%.

Insider Activity

In other news, Director Laurie H. Argo purchased 4,000 shares of Solaris Energy Infrastructure stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $22.43 per share, with a total value of $89,720.00. Following the completion of the transaction, the director now directly owns 46,064 shares in the company, valued at $1,033,215.52. This trade represents a 9.51 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 34.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Solaris Energy Infrastructure stock. California State Teachers Retirement System bought a new stake in Solaris Energy Infrastructure, Inc. (NASDAQ:SEI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,822 shares of the company's stock, valued at approximately $52,000. 67.44% of the stock is owned by 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.