Solesence (NASDAQ:SLSN) Issues Quarterly Earnings Results

Key Points

• Solesence (NASDAQ:SLSN) reported $0.04 earnings per share with revenue of $20.36 million for the quarter, and achieved a return on equity of 34.68%.
• The stock traded down 19.0% to $2.78 after the earnings release, with a significant decrease from its 50-day moving average price of $4.11.
• Wall Street Zen downgraded Solesence from a "hold" to a "sell" rating following the earnings announcement, indicating a bearish outlook.

Solesence (NASDAQ:SLSN - Get Free Report) issued its earnings results on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $20.36 million during the quarter. Solesence had a return on equity of 34.68% and a net margin of 8.13%.

Solesence Trading Down 19.0%

NASDAQ:SLSN traded down $0.65 during trading hours on Friday, hitting $2.78. The company had a trading volume of 110,471 shares, compared to its average volume of 72,832. The business's 50-day moving average price is $4.11. Solesence has a 1 year low of $1.21 and a 1 year high of $16.56. The firm has a market capitalization of $195.93 million, a P/E ratio of 39.71 and a beta of 0.87.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Solesence from a "hold" rating to a "sell" rating in a report on Saturday, July 26th.

Insider Transactions at Solesence

In other Solesence news, COO Kevin Cureton sold 38,807 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $3.80, for a total transaction of $147,466.60. Following the sale, the chief operating officer owned 192,212 shares in the company, valued at $730,405.60. This represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.10% of the stock is owned by insiders.

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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