Cynthia Durrett, an insider at Solaris Energy Infrastructure, Inc. (NYSE: SEI), sold 47,011 shares of the company’s stock for a total of $2,097,630.82 on December 17, 2023. The shares were sold at an average price of $44.62 each. Following this transaction, Durrett holds 131,152 shares of Solaris, which are currently valued at approximately $5,852,002.24. This sale represents a significant decrease of 26.39% in her ownership stake.
The details of the transaction were disclosed in a legal filing with the U.S. Securities and Exchange Commission (SEC). This information is accessible via the SEC’s official site.
Stock Performance and Market Analysis
On the trading day following the sale, shares of Solaris Energy Infrastructure rose by 5.9%, closing at $43.03. During this session, 3,038,598 shares were traded, well above the average volume of 2,197,525 shares. Currently, the company maintains a current ratio of 2.39, a quick ratio of 2.28, and a debt-to-equity ratio of 0.69. Solaris has recorded a one-year low of $14.27 and a high of $57.17. The firm’s market capitalization stands at $2.95 billion, with a price-to-earnings (P/E) ratio of 45.78.
Solaris Energy Infrastructure announced its quarterly earnings on November 3, 2023, reporting earnings per share of $0.32. This figure surpassed analysts’ expectations of $0.24 by $0.08. The company achieved a net margin of 7.02% and a return on equity of 9.38%, with quarterly revenue reaching $166.84 million, exceeding analyst estimates of $142.82 million.
Analyst Ratings and Future Outlook
Recent analyst reports have provided varied outlooks on Solaris Energy Infrastructure. Citigroup has upgraded its price target from $38.00 to $56.00, maintaining a “buy” rating. Northland Securities has set a price target of $61.00, while Piper Sandler has raised its target from $50.00 to $65.00, also rating the stock as “overweight.”
Morgan Stanley initiated coverage on Solaris with an “overweight” rating and a price objective of $68.00. Barclays has similarly increased its price target from $44.00 to $61.00, assigning an “overweight” rating. Currently, two analysts have rated the stock as a Strong Buy, eleven have issued Buy ratings, and one has assigned a Hold rating. According to MarketBeat.com, the stock has an average rating of “Buy” with a consensus price target of $52.80.
Solaris Energy Infrastructure, Inc. specializes in manufacturing patented mobile proppant management systems, which are crucial for oil and natural gas well sites. This includes their Mobile Proppant and Mobile Chemical Management Systems, as well as Inventory Management Software.
As the company continues to navigate the energy sector, the recent insider transaction and positive analyst ratings may indicate a strengthening position in the market. Interested stakeholders can follow further developments through reliable financial news sources and the SEC filings.
