Solaris Oilfield Infra (SOI) Short Interest Up 66.3% in April

Solaris Oilfield Infra (NYSE:SOI) was the target of a large increase in short interest in April. As of April 30th, there was short interest totalling 3,759,578 shares, an increase of 66.3% from the April 13th total of 2,261,201 shares. Based on an average daily volume of 650,067 shares, the days-to-cover ratio is presently 5.8 days. Approximately 14.7% of the shares of the stock are sold short.

Shares of NYSE SOI opened at $16.46 on Friday. The company has a quick ratio of 2.90, a current ratio of 3.29 and a debt-to-equity ratio of 0.21. Solaris Oilfield Infra has a 52-week low of $16.40 and a 52-week high of $16.83. The company has a market capitalization of $757.14 million and a price-to-earnings ratio of 34.29.

Solaris Oilfield Infra (NYSE:SOI) last announced its quarterly earnings results on Wednesday, May 9th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Solaris Oilfield Infra had a net margin of 10.28% and a return on equity of 13.49%. The firm had revenue of $36.02 million during the quarter, compared to analysts’ expectations of $33.06 million. The firm’s revenue for the quarter was up 248.9% on a year-over-year basis. research analysts expect that Solaris Oilfield Infra will post 1.73 earnings per share for the current year.

A number of research firms recently issued reports on SOI. Imperial Capital reiterated an “outperform” rating and set a $26.00 price objective on shares of Solaris Oilfield Infra in a research report on Wednesday, January 24th. Zacks Investment Research cut shares of Solaris Oilfield Infra from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 9th. Finally, Piper Jaffray set a $21.00 price objective on shares of Solaris Oilfield Infra and gave the stock a “buy” rating in a research report on Tuesday, April 3rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $19.79.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Group One Trading L.P. acquired a new position in Solaris Oilfield Infra in the 1st quarter valued at approximately $138,000. Millennium Management LLC boosted its stake in shares of Solaris Oilfield Infra by 296.2% in the 1st quarter. Millennium Management LLC now owns 241,284 shares of the company’s stock valued at $3,996,000 after purchasing an additional 180,387 shares during the last quarter. Glacier Peak Capital LLC bought a new stake in shares of Solaris Oilfield Infra in the 1st quarter valued at $3,889,000. Cubist Systematic Strategies LLC boosted its stake in shares of Solaris Oilfield Infra by 25.7% in the 1st quarter. Cubist Systematic Strategies LLC now owns 17,853 shares of the company’s stock valued at $296,000 after purchasing an additional 3,645 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Solaris Oilfield Infra in the 1st quarter valued at $1,379,000. Hedge funds and other institutional investors own 69.66% of the company’s stock.

About Solaris Oilfield Infra

Solaris Oilfield Infrastructure, Inc manufactures and sells patented mobile proppant management systems to unload, store, and deliver proppant at oil and natural gas well sites in the United States. The company's systems are designed for transferring large quantities of proppant to the well sites.

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