Solesence (NASDAQ:SLSN) Releases Earnings Results

Solesence (NASDAQ:SLSN) released its quarterly earnings data on Tuesday. The company reported ($0.02) EPS for the quarter, Zacks reports. Solesence had a net margin of 8.13% and a return on equity of 32.99%.

Solesence Price Performance

Shares of Solesence stock opened at $2.81 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 0.84 and a debt-to-equity ratio of 0.58. Solesence has a 1 year low of $1.34 and a 1 year high of $16.56. The company has a market capitalization of $198.05 million, a price-to-earnings ratio of 40.14 and a beta of 0.97. The company’s 50 day moving average is $3.48.

Institutional Trading of Solesence

A number of hedge funds have recently made changes to their positions in SLSN. Vanguard Group Inc. increased its stake in Solesence by 10.8% in the third 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 during the last quarter. Geode Capital Management LLC bought a new stake in Solesence during the second quarter worth about $1,871,000. JPMorgan Chase & Co. boosted its holdings in shares of Solesence by 106.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,379 shares of the company’s stock worth $59,000 after purchasing an additional 9,491 shares in the last quarter. Modern Wealth Management LLC purchased a new position in shares of Solesence in the 2nd quarter worth about $119,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Solesence during the 2nd quarter valued at about $45,000. 70.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SLSN has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Solesence from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Solesence in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

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.