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

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

Analysts Set New Price Targets

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

Solaris Energy Infrastructure Trading Up 6.8 %

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 stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 55.85 and a beta of 1.32. The company’s 50-day moving average is $28.84.

Solaris Energy Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, March 11th. Solaris Energy Infrastructure’s dividend payout ratio is presently 97.96%.

Insiders Place Their Bets

In related news, Director Laurie H. Argo bought 4,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were purchased 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 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 34.71% of the stock is owned by corporate insiders.

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.