Solesence (NASDAQ:SLSN) Stock Price Up 2% – Time to Buy?

Solesence, Inc. (NASDAQ:SLSN)’s share price shot up 2% during mid-day trading on Monday . The company traded as high as $1.55 and last traded at $1.54. 27,405 shares were traded during mid-day trading, a decline of 17% from the average session volume of 33,114 shares. The stock had previously closed at $1.51.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Solesence in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Solesence currently has a consensus rating of “Sell”.

Solesence Price Performance

The company has a market capitalization of $108.63 million, a P/E ratio of 154.15 and a beta of 1.08. The company has a quick ratio of 0.78, a current ratio of 1.84 and a debt-to-equity ratio of 0.61. The business has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $3.07.

Solesence (NASDAQ:SLSN) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $14.60 million during the quarter. Solesence had a return on equity of 6.53% and a net margin of 1.72%.

Insider Activity at Solesence

In other Solesence news, Director R Janet Whitmore purchased 19,789 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were bought at an average price of $1.73 per share, with a total value of $34,234.97. Following the completion of the acquisition, the director owned 2,068,931 shares in the company, valued at approximately $3,579,250.63. This represents a 0.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 37,556 shares of company stock valued at $68,049 in the last quarter. 4.80% of the stock is currently owned by company insiders.

Institutional Trading of Solesence

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Solesence by 10.8% in the third quarter. Vanguard Group Inc. now owns 1,042,716 shares of the company’s stock worth $3,358,000 after purchasing an additional 101,868 shares in the last quarter. Hunter Perkins Capital Management LLC acquired a new stake in Solesence in the second quarter worth about $1,909,000. Geode Capital Management LLC bought a new position in Solesence in the 2nd quarter valued at about $1,871,000. Kingsview Wealth Management LLC bought a new position in Solesence in the 2nd quarter valued at about $132,000. Finally, Modern Wealth Management LLC acquired a new position in Solesence during the 2nd quarter valued at about $119,000. 70.22% of the stock is currently owned by institutional investors and hedge funds.

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.