Solstice Advanced Mat (NASDAQ:SOLS) Stock Breaks Above 50-Day Moving Average – What’s Next?

Solstice Advanced Mat (NASDAQ:SOLS)’s share price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $59.90 and traded as high as $62.47. Solstice Advanced Mat shares last traded at $61.74, with a volume of 3,423,690 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on SOLS. Zacks Research lowered shares of Solstice Advanced Mat from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. BMO Capital Markets reissued an “outperform” rating and set a $87.00 price target on shares of Solstice Advanced Mat in a research note on Wednesday, October 21st. UBS Group cut their price objective on shares of Solstice Advanced Mat from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Mizuho cut their price objective on shares of Solstice Advanced Mat from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Finally, Barclays began coverage on shares of Solstice Advanced Mat in a research note on Monday, October 12th. They issued an “overweight” rating and a $73.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Solstice Advanced Mat presently has an average rating of “Moderate Buy” and a consensus price target of $77.30.

Solstice Advanced Mat Stock Up 4.8%

The business has a fifty day moving average of $59.90 and a 200 day moving average of $69.99. The firm has a market cap of $9.81 billion and a P/E ratio of 34.88. The company has a quick ratio of 1.08, a current ratio of 1.46 and a debt-to-equity ratio of 1.30.

Hedge Funds Weigh In On Solstice Advanced Mat

Several institutional investors have recently modified their holdings of the stock. State Street Corp bought a new position in Solstice Advanced Mat during the second quarter worth about $448,557,000. Bank of America Corp DE bought a new stake in shares of Solstice Advanced Mat in the second quarter worth about $153,615,000. Anchor Capital Advisors LLC bought a new stake in shares of Solstice Advanced Mat in the second quarter worth about $55,866,000. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Solstice Advanced Mat by 36.5% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 570,114 shares of the company’s stock worth $32,109,000 after acquiring an additional 152,428 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Solstice Advanced Mat during the second quarter worth about $49,768,000.

About Solstice Advanced Mat

Solstice Advanced Materials, Inc (NASDAQ:SOLS) is a specialty materials company that develops and manufactures engineered materials and chemical technologies for industrial and commercial applications. The company was established as an independent public company following the separation of Honeywell’s Advanced Materials business.

Its portfolio includes fluorine-based products, specialty films, advanced fibers, resins, additives, and other performance materials. These products are used in areas such as refrigeration and air conditioning, healthcare and pharmaceutical packaging, electronics and semiconductors, transportation, aerospace, and protective equipment.

Solstice Advanced Materials serves customers across global markets through a portfolio that includes Solstice refrigerants and blowing agents, Aclar specialty pharmaceutical films, and Spectra high-performance fibers.