Wall Street Zen Upgrades Solesence (NASDAQ:SLSN) to "Hold"

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.

Solesence (NASDAQ:SLSN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Solesence Stock Down 19.0%

Solesence stock opened at $2.78 on Friday. The company's 50 day moving average is $4.11. The company has a market capitalization of $195.93 million, a P/E ratio of 39.71 and a beta of 0.87. Solesence has a fifty-two week low of $1.21 and a fifty-two week high of $16.56.

Solesence (NASDAQ:SLSN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share 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 during the quarter.

Insider Activity at Solesence

In other Solesence news, COO Kevin Cureton sold 38,807 shares of Solesence stock in a transaction on Friday, June 6th. The shares were sold at an average price of $3.80, for a total value of $147,466.60. Following the transaction, the chief operating officer directly owned 192,212 shares of the company's stock, valued at approximately $730,405.60. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Solesence

An institutional investor recently bought a new position in Solesence stock. Hunter Perkins Capital Management LLC bought a new stake in Solesence, Inc. (NASDAQ:SLSN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 reporting period. 70.22% of the stock is owned by 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.

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