Solesence (NASDAQ:SLSN) Cut to "Sell" at Wall Street Zen

Key Points

• Solesence (NASDAQ:SLSN) has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a negative outlook from analysts.
• The company's stock price saw a decline of 2.9% recently, trading at $4.34, with a market capitalization of approximately $304.23 million.
• Insider transactions include COO Kevin Cureton selling 38,807 shares for a total of $147,466.60, marking a significant 16.80% decrease in his ownership.

Wall Street Zen cut shares of Solesence (NASDAQ:SLSN - Free Report) from a hold rating to a sell rating in a report published on Saturday.

Solesence Stock Performance

Solesence stock traded down $0.42 during midday trading on Friday, hitting $3.85. 48,444 shares of the stock were exchanged, compared to its average volume of 72,468. Solesence has a 1 year low of $1.21 and a 1 year high of $16.56. The stock has a market cap of $269.89 million, a price-to-earnings ratio of 96.27 and a beta of 0.78. The company has a 50 day simple moving average of $4.15.

Insider Activity

In other news, COO Kevin Cureton sold 38,807 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $3.80, for a total value of $147,466.60. Following the sale, the chief operating officer owned 192,212 shares in the company, valued at approximately $730,405.60. This represents a 16.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.10% of the company's stock.

Institutional Investors Weigh In On Solesence

An institutional investor recently bought a new position in Solesence stock. Hunter Perkins Capital Management LLC purchased a new position in Solesence, Inc. (NASDAQ:SLSN - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 437,872 shares of the company's stock, valued at approximately $1,909,000. Hunter Perkins Capital Management LLC owned 0.62% of Solesence at the end of the most recent quarter. 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.