Solesence (NASDAQ:SLSN) Posts Quarterly Earnings Results

Solesence (NASDAQ:SLSN) issued its earnings results on Tuesday. The company reported ($0.01) earnings per share for the quarter, FiscalAI reports. Solesence had a return on equity of 5.34% and a net margin of 1.56%.The firm had revenue of $12.96 million during the quarter.

Solesence Stock Down 0.2%

Solesence stock traded down $0.00 during trading hours on Thursday, reaching $1.32. The stock had a trading volume of 19,670 shares, compared to its average volume of 36,152. The company has a market cap of $93.02 million, a price-to-earnings ratio of 133.63 and a beta of 1.30. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 0.74. The business’s 50 day moving average price is $1.13 and its 200-day moving average price is $1.63. Solesence has a 52 week low of $0.78 and a 52 week high of $5.63.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

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

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.