Solesence (NASDAQ:SLSN) Trading Down 7.4% – Time to Sell?

Solesence, Inc. (NASDAQ:SLSN)’s share price traded down 7.4% on Thursday . The stock traded as low as $1.18 and last traded at $1.26. 29,206 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 45,331 shares. The stock had previously closed at $1.36.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Solesence in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Solesence Stock Down 7.4%

The stock has a 50 day moving average price of $1.16 and a 200-day moving average price of $1.54. The stock has a market capitalization of $88.99 million, a P/E ratio of 126.13 and a beta of 1.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.08 and a quick ratio of 0.70.

Solesence (NASDAQ:SLSN) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $12.96 million for the quarter. Solesence had a net margin of 1.56% and a return on equity of 5.39%.

Institutional Trading of Solesence

A number of institutional investors have recently modified their holdings of SLSN. Geode Capital Management LLC purchased a new stake in Solesence in the second quarter worth about $1,871,000. JPMorgan Chase & Co. purchased a new position in shares of Solesence during the second quarter valued at approximately $39,000. New York State Common Retirement Fund purchased a new position in shares of Solesence during the second quarter valued at approximately $95,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Solesence during the second quarter valued at approximately $45,000. Finally, Bank of America Corp DE bought a new stake in shares of Solesence during the second quarter valued at approximately $26,000. 70.22% of the stock is currently owned by hedge funds and other institutional investors.

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.