Solstice Advanced Mat (NASDAQ:SOLS) Hits New 1-Year High – Here’s Why

Solstice Advanced Mat (NASDAQ:SOLS)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $61.20 and last traded at $59.60, with a volume of 177764 shares changing hands. The stock had previously closed at $60.51.

Wall Street Analyst Weigh In

Several research firms have commented on SOLS. Alembic Global Advisors initiated coverage on shares of Solstice Advanced Mat in a report on Monday, December 1st. They set an “overweight” rating and a $60.00 price objective for the company. Vertical Research upgraded Solstice Advanced Mat from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, January 7th. Mizuho began coverage on Solstice Advanced Mat in a report on Friday, October 31st. They set a “neutral” rating and a $54.00 price target for the company. Wall Street Zen downgraded Solstice Advanced Mat from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Finally, UBS Group upped their price objective on Solstice Advanced Mat from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Solstice Advanced Mat Price Performance

The company’s 50-day moving average price is $48.41. The firm has a market cap of $9.63 billion and a PE ratio of -136,911.76.

Hedge Funds Weigh In On Solstice Advanced Mat

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DiNuzzo Private Wealth Inc. bought a new position in shares of Solstice Advanced Mat during the 4th quarter valued at approximately $26,000. Bernard Wealth Management Corp. purchased a new position in Solstice Advanced Mat during the fourth quarter worth $58,000. Tradewinds Capital Management LLC purchased a new position in Solstice Advanced Mat during the fourth quarter worth $89,000. PFS Partners LLC bought a new position in Solstice Advanced Mat during the fourth quarter valued at $98,000. Finally, Spirit of America Management Corp NY bought a new position in Solstice Advanced Mat during the fourth quarter valued at $107,000.

About Solstice Advanced Mat

Solstice Advanced Materials is a leading global specialty materials company that advances science for smarter outcomes. Solstice offers high-performance solutions that enable critical industries and applications, including refrigerants, semiconductor manufacturing, data center cooling, nuclear power, protective fibers, healthcare packaging and more.