Solaris Energy Infrastructure (NASDAQ:SEI) Shares Gap Up Following Insider Buying Activity

Solaris Energy Infrastructure, Inc. (NASDAQ:SEI) gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $22.23, but opened at $23.62. Solaris Energy Infrastructure shares last traded at $24.07, with a volume of 95,331 shares changing hands.

Specifically, Director Laurie H. Argo acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased 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 owns 46,064 shares in the company, valued at $1,033,215.52. This trade represents a 9.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Janney Montgomery Scott began coverage on shares of Solaris Energy Infrastructure in a report on Tuesday, February 25th. They issued a “buy” rating and a $57.00 price target for the company. Stifel Nicolaus increased their price objective on Solaris Energy Infrastructure from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Tudor Pickering raised shares of Solaris Energy Infrastructure to a “strong-buy” rating in a research note on Wednesday, January 22nd. Piper Sandler started coverage on shares of Solaris Energy Infrastructure in a research note on Thursday, February 20th. They set an “overweight” rating and a $37.00 price objective for the company. Finally, 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. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $45.75.

Solaris Energy Infrastructure Stock Performance

The company has a market capitalization of $1.54 billion, a P/E ratio of 52.30 and a beta of 1.32. The firm has a fifty day simple moving average of $28.94. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 11th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.48 annualized dividend and a dividend yield of 2.09%. Solaris Energy Infrastructure’s dividend payout ratio is currently 97.96%.

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.