Solesence, Inc. (NASDAQ:SLSN) Short Interest Update

Key Points

• Short interest up 17.8% — short interest rose to 846,495 shares as of April 15, ~1.3% of shares outstanding, with a short-interest ratio of 15.8 days based on average daily volume.
• High institutional ownership — hedge funds and institutions hold 70.22% of the stock, and several firms (notably Geode Capital with ≈$1.87M) opened new positions in the second quarter.
• Weak analyst and price backdrop — the stock trades around $1.30 (52‑week range $0.78–$5.63, market cap ~$91.8M) and carries a MarketBeat consensus rating of "Sell" after Weiss Ratings reiterated a sell.

Solesence, Inc. (NASDAQ:SLSN - Get Free Report) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 846,495 shares, a growth of 17.8% from the March 31st total of 718,699 shares. Based on an average daily trading volume, of 53,582 shares, the short-interest ratio is presently 15.8 days. Approximately 1.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Solesence

Several large investors have recently modified their holdings of SLSN. Geode Capital Management LLC purchased a new position in shares of Solesence in the second quarter worth about $1,871,000. JPMorgan Chase & Co. purchased a new position in shares of Solesence in the second quarter worth about $39,000. New York State Common Retirement Fund purchased a new position in shares of Solesence in the second quarter worth about $95,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Solesence in the second quarter worth about $45,000. Finally, Bank of America Corp DE purchased a new position in shares of Solesence in the second quarter worth about $26,000. Hedge funds and other institutional investors own 70.22% of the company's stock.

Solesence Stock Performance

NASDAQ SLSN opened at $1.30 on Thursday. Solesence has a 52-week low of $0.78 and a 52-week high of $5.63. The company has a 50-day simple moving average of $1.13 and a 200 day simple moving average of $1.78. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 2.07. The company has a market capitalization of $91.82 million, a PE ratio of 65.03 and a beta of 1.17.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Solesence in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of "Sell".

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.

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