Lake Street Capital Begins Coverage on Research Solutions (NASDAQ:RSSS)

Lake Street Capital assumed coverage on shares of Research Solutions (NASDAQ:RSSS - Free Report) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm issued a buy rating and a $5.00 target price on the stock.

Research Solutions Price Performance

Shares of NASDAQ RSSS remained flat at $3.00 during midday trading on Tuesday. The stock had a trading volume of 15,051 shares, compared to its average volume of 56,142. The company has a market capitalization of $97.86 million, a PE ratio of -150.00 and a beta of 0.60. Research Solutions has a 52-week low of $1.80 and a 52-week high of $3.50. The stock has a 50 day moving average of $3.08 and a 200 day moving average of $2.72.

Insider Activity

In other news, major shareholder Peter Derycz sold 40,402 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2.87, for a total transaction of $115,953.74. Following the completion of the transaction, the insider now directly owns 2,984,680 shares in the company, valued at approximately $8,566,031.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 43,039 shares of company stock worth $123,460. 26.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC bought a new stake in Research Solutions in the third quarter worth $61,000. Oppenheimer Asset Management Inc. increased its stake in shares of Research Solutions by 5.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 103,304 shares of the company's stock valued at $258,000 after buying an additional 4,977 shares during the period. Ridgewood Investments LLC increased its stake in shares of Research Solutions by 8.1% during the fourth quarter. Ridgewood Investments LLC now owns 124,937 shares of the company's stock valued at $325,000 after buying an additional 9,400 shares during the period. First Dallas Securities Inc. purchased a new position in shares of Research Solutions during the third quarter valued at $387,000. Finally, Punch & Associates Investment Management Inc. increased its stake in shares of Research Solutions by 1.2% during the third quarter. Punch & Associates Investment Management Inc. now owns 384,600 shares of the company's stock valued at $962,000 after buying an additional 4,600 shares during the period. 33.60% of the stock is currently owned by institutional investors.

About Research Solutions

Research Solutions, Inc, through its subsidiaries, provides cloud-based software-as-a-service research platform. The company is also involved in the transactional sale of published scientific, technical, and medical (STM) content managed, sourced, and delivered through the Transactions platform. Its solutions enable life science and other research intensive organizations to accelerate their research and development activities with access and management STM articles used throughout the intellectual property development lifecycle.