Solesence (NASDAQ:SLSN) Stock Price Down 4.1% – Here’s What Happened

Solesence, Inc. (NASDAQ:SLSN)’s share price fell 4.1% on Tuesday . The company traded as low as $1.3698 and last traded at $1.42. 23,142 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 31,628 shares. The stock had previously closed at $1.48.

Wall Street Analyst Weigh In

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

Solesence Price Performance

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 company has a market capitalization of $100.17 million, a PE ratio of 142.14 and a beta of 1.09. The firm’s 50 day simple moving average is $1.77 and its 200 day simple moving average is $2.79.

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

Insider Transactions at Solesence

In other Solesence news, Director R Janet Whitmore bought 19,789 shares of the company’s stock in a transaction on Friday, November 14th. The stock was acquired at an average price of $1.73 per share, for a total transaction of $34,234.97. Following the completion of the transaction, the director directly owned 2,068,931 shares of the company’s stock, valued at approximately $3,579,250.63. This represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 37,556 shares of company stock valued at $68,049 over the last ninety days. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Solesence

Large investors have recently bought and sold shares of the business. Bank of America Corp DE bought a new stake in shares of Solesence during the second quarter worth $26,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Solesence in the 2nd quarter worth about $29,000. JPMorgan Chase & Co. bought a new stake in Solesence during the 2nd quarter valued at about $39,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Solesence during the 2nd quarter valued at about $45,000. Finally, Intech Investment Management LLC purchased a new stake in Solesence in the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 70.22% of the company’s stock.

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.