Short Interest in Solesence, Inc. (NASDAQ:SLSN) Rises By 17.8%

Solesence, Inc. (NASDAQ:SLSN) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 846,495 shares, an increase of 17.8% from the March 31st total of 718,699 shares. Based on an average daily volume of 53,582 shares, the days-to-cover ratio is presently 15.8 days. Currently, 1.3% of the shares of the company are sold short.

Institutional Trading of Solesence

Institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Solesence by 145.5% during the 4th quarter. State Street Corp now owns 408,987 shares of the company’s stock valued at $652,000 after acquiring an additional 242,401 shares in the last quarter. Jane Street Group LLC boosted its position 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 valued at $62,000 after acquiring an additional 24,625 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Solesence by 10.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,042,716 shares of the company’s stock valued at $3,358,000 after acquiring an additional 101,868 shares in the last quarter. Modern Wealth Management LLC acquired a new stake in shares of Solesence during the 2nd quarter valued at about $119,000. Finally, New York State Common Retirement Fund acquired a new position in Solesence in the second quarter valued at about $95,000. 70.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Solesence Price Performance

Shares of Solesence stock traded down $0.03 during trading on Friday, hitting $1.32. 8,232 shares of the company’s stock traded hands, compared to its average volume of 35,220. 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 firm’s fifty day moving average price is $1.13 and its 200 day moving average price is $1.78. Solesence has a twelve month low of $0.78 and a twelve month high of $5.63. The company has a market cap of $92.88 million, a PE ratio of 65.78 and a beta of 1.17.

About Solesence

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.