Lake Street Capital Begins Coverage on Research Solutions (NASDAQ:RSSS)

Lake Street Capital began coverage on shares of Research Solutions (NASDAQ:RSSS) in a report released on Tuesday morning, Benzinga reports. The brokerage issued a buy rating and a $5.00 price objective on the stock.

Research Solutions Stock Down 3.8 %

Shares of NASDAQ:RSSS opened at $3.00 on Tuesday. Research Solutions has a 52 week low of $1.80 and a 52 week high of $3.50. The business has a fifty day simple moving average of $3.08 and a 200-day simple moving average of $2.73.

Insider Activity at Research Solutions

In related news, major shareholder Peter Derycz sold 40,402 shares of Research Solutions stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.87, for a total value of $115,953.74. Following the transaction, the insider now owns 2,984,680 shares in the company, valued at $8,566,031.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cove Street Capital LLC lifted its stake in shares of Research Solutions by 50.9% during the third quarter. Cove Street Capital LLC now owns 3,557,847 shares of the company’s stock worth $8,147,000 after purchasing an additional 1,200,350 shares in the last quarter. First Dallas Securities Inc. acquired a new position in shares of Research Solutions in the third quarter worth about $387,000. Punch & Associates Investment Management Inc. increased its holdings in Research Solutions by 1.2% in the third quarter. Punch & Associates Investment Management Inc. now owns 384,600 shares of the company’s stock valued at $962,000 after buying an additional 4,600 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Research Solutions by 5.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 103,304 shares of the company’s stock valued at $258,000 after buying an additional 4,977 shares during the last quarter. Finally, Ridgewood Investments LLC increased its holdings in Research Solutions by 8.1% in the fourth quarter. Ridgewood Investments LLC now owns 124,937 shares of the company’s stock valued at $325,000 after buying an additional 9,400 shares during the last quarter. Institutional investors and hedge funds own 33.60% of the company’s stock.

Research Solutions Company Profile

Research Solutions, Inc, through its subsidiaries, provides cloud-based software-as-a-service research platform. The company is also involved in the transactional sale of published scientific, technical, and medical (STM) content managed, sourced, and delivered through the Transactions platform. Its solutions enable life science and other research intensive organizations to accelerate their research and development activities with access and management STM articles used throughout the intellectual property development lifecycle.