Solesence, Inc. (NASDAQ:SLSN) Short Interest Down 48.6% in June

Solesence, Inc. (NASDAQ:SLSN) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 389,460 shares, a decline of 48.6% from the June 15th total of 757,817 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average trading volume of 254,019 shares, the short-interest ratio is currently 1.5 days.

Hedge Funds Weigh In On Solesence

A number of large investors have recently modified their holdings of the stock. State Street Corp grew its stake in shares of Solesence by 145.5% during the fourth quarter. State Street Corp now owns 408,987 shares of the company’s stock valued at $652,000 after purchasing an additional 242,401 shares during the last quarter. Jane Street Group LLC lifted its holdings in Solesence by 170.6% during the 4th quarter. Jane Street Group LLC now owns 39,056 shares of the company’s stock worth $62,000 after buying an additional 24,625 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Solesence in the 4th quarter valued at $30,000. JPMorgan Chase & Co. boosted its position in Solesence by 106.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,379 shares of the company’s stock valued at $59,000 after buying an additional 9,491 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Solesence by 10.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,042,716 shares of the company’s stock valued at $3,358,000 after buying an additional 101,868 shares during the period. 70.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Solesence from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Solesence Price Performance

Shares of Solesence stock traded up $0.21 during trading on Wednesday, hitting $0.85. 1,337,168 shares of the company’s stock traded hands, compared to its average volume of 64,338. The company has a market cap of $59.83 million, a PE ratio of 84.78 and a beta of 1.31. The firm’s fifty day moving average price is $1.13 and its 200 day moving average price is $1.23. Solesence has a twelve month low of $0.61 and a twelve month high of $4.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.08 and a quick ratio of 0.70.

Solesence (NASDAQ:SLSN) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $12.96 million for the quarter. Solesence had a net margin of 1.56% and a return on equity of 5.39%.

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.