Solesence (NASDAQ:SLSN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Solesence from a "sell" rating to a "hold" rating, indicating a potential shift in analyst sentiment towards the company.
• Solesence's stock decreased by 19.0%, with shares currently priced at $2.78, significantly below its 52-week high of $16.56.
• Recent insider activity included the sale of 38,807 shares by COO Kevin Cureton, reducing his ownership stake in the company.

Wall Street Zen upgraded shares of Solesence (NASDAQ:SLSN - Free Report) from a sell rating to a hold rating in a research report released on Sunday morning.

Solesence Trading Up 6.1%

Shares of SLSN traded up $0.18 during trading hours on Friday, reaching $3.13. The company's stock had a trading volume of 34,081 shares, compared to its average volume of 120,745. The firm has a 50 day moving average of $4.06. The company has a market cap of $220.60 million, a price-to-earnings ratio of 44.71 and a beta of 0.87. Solesence has a 1-year low of $1.21 and a 1-year high of $16.56.

Solesence (NASDAQ:SLSN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.04 EPS for the quarter. Solesence had a net margin of 8.13% and a return on equity of 34.68%. The firm had revenue of $20.36 million for the quarter.

Insider Activity

In other Solesence news, COO Kevin Cureton sold 38,807 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $3.80, for a total value of $147,466.60. Following the transaction, the chief operating officer owned 192,212 shares in the company, valued at $730,405.60. The trade was a 16.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On Solesence

A hedge fund recently bought a new stake in Solesence stock. Hunter Perkins Capital Management LLC acquired a new stake in shares of Solesence, Inc. (NASDAQ:SLSN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 437,872 shares of the company's stock, valued at approximately $1,909,000. Hunter Perkins Capital Management LLC owned approximately 0.62% of Solesence as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 70.22% of the company's stock.

Solesence Company Profile

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.