Solesence (NASDAQ:SLSN) Trading Up 2% – What’s Next?

Solesence, Inc. (NASDAQ:SLSN)’s share price shot up 2% during mid-day trading on Monday . The stock traded as high as $1.55 and last traded at $1.54. 27,405 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 33,114 shares. The stock had previously closed at $1.51.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Solesence in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Solesence Stock Up 2.0%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.78 and a current ratio of 1.84. The stock’s fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $3.07. The company has a market capitalization of $108.63 million, a price-to-earnings ratio of 154.15 and a beta of 1.08.

Solesence (NASDAQ:SLSN) last released its earnings results on Thursday, November 13th. The company reported ($0.02) EPS for the quarter. Solesence had a return on equity of 6.53% and a net margin of 1.72%.The business had revenue of $14.60 million during the quarter.

Insider Activity

In related news, Director R Janet Whitmore acquired 19,789 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was bought at an average price of $1.73 per share, for a total transaction of $34,234.97. Following the transaction, the director owned 2,068,931 shares of the company’s stock, valued at approximately $3,579,250.63. The trade was a 0.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 37,556 shares of company stock valued at $68,049 over the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Solesence

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Solesence by 106.8% during the third quarter. JPMorgan Chase & Co. now owns 18,379 shares of the company’s stock valued at $59,000 after purchasing an additional 9,491 shares during the last quarter. Vanguard Group Inc. raised its holdings in Solesence by 10.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,042,716 shares of the company’s stock worth $3,358,000 after buying an additional 101,868 shares during the period. Modern Wealth Management LLC purchased a new stake in Solesence during the second quarter valued at about $119,000. Bank of America Corp DE acquired a new position in shares of Solesence in the second quarter worth about $26,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Solesence in the second quarter worth about $45,000. 70.22% of the stock is currently owned by institutional investors and hedge funds.

Solesence Company Profile

Nanophase Technologies Corporation provides engineered materials, formulation development, and commercial manufacturing with an integrated family of technologies in the United States. It offers surface engineered zinc oxide and titanium dioxide for sunscreens and personal care products; fully formulated cosmetics, sun care, and skin care under the Solésence brand name; and advanced materials products, such as architectural coatings, industrial coatings, abrasion-resistant additives, plastics additives, medical diagnostics, and various surface finishing technologies applications.