Research Solutions (NASDAQ:RSSS) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Research Solutions reported quarterly earnings of $0.07 per share, exceeding analysts' forecasts by $0.04.
• The company's stock rose 6.2% to $3.93 following the earnings announcement, with trading volume significantly higher than average.
• Institutional investors own 33.60% of Research Solutions, with Acadian Asset Management increasing its stake by 83.7% in the first quarter.

Research Solutions (NASDAQ:RSSS - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04, Zacks reports. Research Solutions had a negative return on equity of 5.80% and a negative net margin of 8.03%.

Research Solutions Trading Up 6.2%

NASDAQ RSSS traded up $0.23 on Thursday, hitting $3.93. 901,549 shares of the company's stock were exchanged, compared to its average volume of 85,672. The stock has a 50-day moving average of $2.93 and a 200-day moving average of $2.83. Research Solutions has a 52 week low of $2.32 and a 52 week high of $4.24. The stock has a market cap of $127.57 million, a price-to-earnings ratio of -28.07, a P/E/G ratio of 3.89 and a beta of 0.66.

Institutional Investors Weigh In On Research Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its stake in Research Solutions by 83.7% during the first quarter. Acadian Asset Management LLC now owns 87,327 shares of the company's stock worth $225,000 after purchasing an additional 39,789 shares during the last quarter. Topline Capital Management LLC acquired a new position in shares of Research Solutions during the second quarter worth $125,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Research Solutions during the first quarter worth $71,000. 33.60% of the stock is currently owned by institutional investors.

About Research Solutions

Research Solutions, Inc, through its subsidiaries, provides research cloud-based software-as-a-service software platform and related services to corporate, academic, government and individual researchers in the United States, Europe, and internationally. It provides Discover platform that facilitates search discovery across virtually all scientific, technical, and medical (STM) articles available, including free basic search solutions and advanced search tools, which include the Resolute.ai and scite.ai products, a tools that allows for searching and identifying relevant research and find insights in other datasets adjacent to STM content, such as clinical trial, patent, life science and medtech regulatory information, competitor and technology landscape insights in addition to searching the customer's internal datasets.

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