Solaris Energy Infrastructure Inc

Solaris Energy Infrastructure Inc (NYSE: SEI) provides modular and scalable equipment-based solutions that enable distributed power generation and support the movement and management of raw materials used in oil and natural gas well completion activities. The company conducts its operations through two core business segments: Solaris Power Solutions and Solaris Logistics Solutions.

As per Kalkine’s Diversified Opportunities Report published on ‘SEI’ on Dec 11, 2026, Kalkine provided an ‘Buy’ stance on the stock at USD 50.75 based on fundamental analysis and the stock price has now moved up by ~ 12.06% since then.

Noted below are the details of support and resistance levels provided in our previous report:

Rationale:

• Sustained Scale-Up in Operating Capacity: The company expanded average revenue-earning capacity to approximately 760 MW in Q3 2025, representing a sharp sequential and year-on-year increase, demonstrating tangible progress toward a significantly larger fully deployed fleet and strengthening the underlying earnings base.
• Visibility from Long-Tenor and Contracted Demand: Management highlighted increasing customer preference for multi-year power solutions, with the operated fleet expected to reach ~2,200 MW by early 2028, providing long-dated revenue visibility that supports forward-looking valuation assumptions.
• Step-Change in Earnings Run-Rate Metrics: Q3 2025 Adjusted EBITDA of USD 68 million implies a materially higher annualized run-rate, while pro forma illustrations indicate substantially larger earnings potential at full fleet deployment, reinforcing the economic value embedded in existing assets and orders.
• Strengthened Financial Flexibility and Capital Structure: The refinancing through low-coupon convertible notes removed restrictive covenants and is expected to generate meaningful interest and amortization savings over the next four quarters, enhancing cash flow capacity to support growth without incremental balance sheet stress.
• Strategic Integration and Platform Expansion: The acquisition of HVMVLV and continued vertical integration broaden the company’s end-to-end power solutions capability, improving margin resilience and reinforcing the long-term economic contribution of both existing operations and future deployments.

Valuation (Using EV/EBITDA Multiple)

Share Price Chart 

Conclusion

SEI’s outperformance is supported by its rapid scaling of revenue-earning capacity, improved visibility from long-tenor customer engagements, and a clear pathway toward a significantly larger operated fleet over the medium term. This operating momentum is reinforced by a materially higher earnings run-rate demonstrated in recent quarters, pro forma indications at full deployment, and enhanced financial flexibility following balance sheet refinancing, which reduces near-term funding constraints. In parallel, strategic acquisitions and vertical integration initiatives strengthen the platform, improve resilience across cycles, and underpin expectations of sustained economic contribution from both existing assets and committed capacity.

Considering company’s sharp increase in its operating capacity, long-duration demand visibility from contracted power solutions, a demonstrably higher earnings run-rate, enhanced balance sheet flexibility, strategic expansion of the integrated power platform supporting future cash generation, and valuation downside, a "Sell" recommendation on Solaris Energy Infrastructure Inc (NYSE: SEI) has been given at the closing market price of USD 56.87 as on 16 January 2026.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 16 January 2026. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and/or technical analysis taking into consideration both short-term and long-term scenario.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Note 6: Dividend Yield may vary as per the stock price movement.