Solesence (NASDAQ:SLSN) Trading Up 6.4% – Here’s Why

Solesence, Inc. (NASDAQ:SLSN) was up 6.4% on Friday . The stock traded as high as $1.36 and last traded at $1.33. Approximately 39,527 shares were traded during mid-day 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 reiterated a “sell (d)” rating on shares of Solesence in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Solesence currently has an average rating of “Sell”.

Solesence Trading Up 6.4%

The company’s fifty day simple moving average is $1.26 and its two-hundred day simple moving average is $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. The company has a market capitalization of $93.94 million, a price-to-earnings ratio of 133.13 and a beta of 1.24.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLSN. Geode Capital Management LLC bought a new stake in shares of Solesence in the second quarter worth about $1,871,000. JPMorgan Chase & Co. acquired a new position in shares of Solesence in the 2nd quarter valued at approximately $39,000. New York State Common Retirement Fund acquired a new position in shares of Solesence in the 2nd quarter valued at approximately $95,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Solesence during the 2nd quarter worth approximately $45,000. Finally, Bank of America Corp DE bought a new stake in Solesence during the 2nd quarter worth approximately $26,000. 70.22% of the stock is 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.