Solesence (NASDAQ:SLSN) Stock Price Up 6.4% – Here’s What Happened

Solesence, Inc. (NASDAQ:SLSN)’s share price rose 6.4% during trading on Friday . The stock traded as high as $1.36 and last traded at $1.33. Approximately 39,527 shares were traded during trading, an increase of 13% from the average daily volume of 34,978 shares. The stock had previously closed at $1.25.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Solesence in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Solesence presently has a consensus rating of “Sell”.

Solesence Price Performance

The company has a market capitalization of $93.94 million, a price-to-earnings ratio of 133.13 and a beta of 1.24. The stock has a fifty day simple moving average of $1.26 and a 200-day simple moving average of $1.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.08 and a quick ratio of 0.70.

Solesence (NASDAQ:SLSN) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter. The business had revenue of $12.96 million during the quarter. Solesence had a net margin of 1.56% and a return on equity of 5.39%.

Institutional Trading of Solesence

A number of institutional investors and hedge funds have recently made changes to their positions in SLSN. Bank of America Corp DE acquired a new position in Solesence in the 2nd quarter valued at $26,000. Goldman Sachs Group Inc. acquired a new position in Solesence in the 4th quarter valued at $30,000. JPMorgan Chase & Co. purchased a new stake in Solesence in the 2nd quarter valued at $39,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Solesence in the 2nd quarter valued at $45,000. Finally, Jane Street Group LLC grew its holdings in Solesence by 170.6% in the 4th quarter. Jane Street Group LLC now owns 39,056 shares of the company’s stock valued at $62,000 after buying an additional 24,625 shares in the last quarter. 70.22% of the stock is currently owned by hedge funds and other institutional investors.

About Solesence

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.