Solesence (NASDAQ:SLSN) Issues Earnings Results

Solesence (NASDAQ:SLSN) announced its quarterly earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $20.16 million for the quarter. Solesence had a negative return on equity of 11.58% and a negative net margin of 3.40%.

Solesence Price Performance

NASDAQ:SLSN opened at $1.17 on Friday. The firm has a 50-day moving average of $0.85 and a 200-day moving average of $1.05. The company has a market cap of $82.73 million, a PE ratio of -40.27 and a beta of 1.32. Solesence has a one year low of $0.61 and a one year high of $2.30.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Solesence in a research note on Monday, October 26th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Solesence presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Solesence

Several large investors have recently added to or reduced their stakes in SLSN. Susquehanna International Group LLP increased its holdings in Solesence by 697.7% during the 2nd quarter. Susquehanna International Group LLP now owns 111,340 shares of the company’s stock worth $82,000 after purchasing an additional 97,382 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Solesence in the second quarter worth approximately $341,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Solesence in the second quarter worth approximately $233,000. Institutional investors own 70.22% of the company’s stock.

Solesence Company Profile

Solesence is a skincare company focused on developing science-based products designed to protect, improve and maintain the health and appearance of skin. Its work centers on combining cosmetic formulations with dermatological and cosmetic science, particularly in areas such as daily skin protection and visible signs of skin aging. The company develops skincare and sun-care formulations for use in branded and private-label products. Its offerings are intended to support needs including mineral sun protection, hydration, skin tone and texture, and anti-aging care.