Solesence (NASDAQ:SLSN) Issues Quarterly Earnings Results

Solesence (NASDAQ:SLSN) released its earnings results on Tuesday. The company reported ($0.01) EPS for the quarter, FiscalAI reports. Solesence had a return on equity of 10.50% and a net margin of 2.88%.The business had revenue of $12.96 million for the quarter.

Solesence Stock Down 14.0%

NASDAQ SLSN traded down $0.21 on Tuesday, reaching $1.29. The company had a trading volume of 47,640 shares, compared to its average volume of 36,050. The stock has a market capitalization of $91.11 million, a P/E ratio of 64.53 and a beta of 1.30. The company’s fifty day moving average is $1.13 and its 200 day moving average is $1.66. Solesence has a 52-week low of $0.78 and a 52-week high of $5.63. The company has a quick ratio of 0.74, a current ratio of 2.07 and a debt-to-equity ratio of 0.60.

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, According to MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE purchased a new position in Solesence during the second quarter worth about $26,000. Goldman Sachs Group Inc. purchased a new stake in shares of Solesence during the fourth quarter valued at approximately $30,000. JPMorgan Chase & Co. purchased a new stake in shares of Solesence during the second quarter valued at approximately $39,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Solesence during the second quarter valued at approximately $45,000. Finally, Jane Street Group LLC raised its stake in shares of Solesence by 170.6% during the 4th quarter. Jane Street Group LLC now owns 39,056 shares of the company’s stock worth $62,000 after purchasing an additional 24,625 shares during the period. 70.22% of the stock is currently owned by hedge funds and other institutional investors.

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.