Research Solutions (NASDAQ:RSSS) Now Covered by Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of Research Solutions (NASDAQ:RSSS) in a research note released on Tuesday, Benzinga reports. The brokerage issued a buy rating and a $5.00 price objective on the stock.

Research Solutions Stock Down 3.8 %

NASDAQ RSSS opened at $3.00 on Tuesday. Research Solutions has a 1-year low of $1.80 and a 1-year high of $3.50. The firm’s fifty day simple moving average is $3.08 and its 200-day simple moving average is $2.73.

Insiders Place Their Bets

In other Research Solutions news, major shareholder Peter Derycz sold 40,402 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2.87, for a total transaction of $115,953.74. Following the transaction, the insider now directly owns 2,984,680 shares of the company’s stock, valued at $8,566,031.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 26.47% of the company’s stock.

Hedge Funds Weigh In On Research Solutions

Several hedge funds have recently bought and sold shares of RSSS. Punch & Associates Investment Management Inc. boosted its holdings in Research Solutions by 1.2% during the third quarter. Punch & Associates Investment Management Inc. now owns 384,600 shares of the company’s stock valued at $962,000 after acquiring an additional 4,600 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Research Solutions by 5.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 103,304 shares of the company’s stock worth $258,000 after purchasing an additional 4,977 shares during the period. Ridgewood Investments LLC lifted its stake in Research Solutions by 8.1% during the fourth quarter. Ridgewood Investments LLC now owns 124,937 shares of the company’s stock worth $325,000 after purchasing an additional 9,400 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in shares of Research Solutions during the third quarter worth approximately $61,000. Finally, First Dallas Securities Inc. acquired a new stake in shares of Research Solutions during the third quarter worth approximately $387,000. 33.60% of the stock is owned by institutional investors and hedge funds.

About Research Solutions

Research Solutions, Inc, through its subsidiaries, provides cloud-based software-as-a-service research platform. The company is also involved in the transactional sale of published scientific, technical, and medical (STM) content managed, sourced, and delivered through the Transactions platform. Its solutions enable life science and other research intensive organizations to accelerate their research and development activities with access and management STM articles used throughout the intellectual property development lifecycle.