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

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Solesence in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Solesence Stock 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 moving average price of $1.26 and a two-hundred day moving average price of $1.41. The company has a quick ratio of 0.70, a current ratio of 2.08 and a debt-to-equity ratio of 0.62.

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

Institutional Trading of Solesence

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Solesence by 10.8% during the third quarter. Vanguard Group Inc. now owns 1,042,716 shares of the company’s stock worth $3,358,000 after acquiring an additional 101,868 shares in the last quarter. Geode Capital Management LLC bought a new position in Solesence during the second quarter valued at about $1,871,000. State Street Corp raised its holdings in Solesence by 145.5% during the fourth quarter. State Street Corp now owns 408,987 shares of the company’s stock valued at $652,000 after buying an additional 242,401 shares in the last quarter. Jane Street Group LLC raised its holdings in Solesence by 170.6% during the fourth 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. Finally, Modern Wealth Management LLC bought a new position in Solesence during the second quarter valued at about $119,000. Institutional investors and hedge funds own 70.22% of the company’s stock.

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.