Short Interest in Solesence, Inc. (NASDAQ:SLSN) Expands By 17.8%

Solesence, Inc. (NASDAQ:SLSN) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totaling 846,495 shares, an increase of 17.8% from the March 31st total of 718,699 shares. Based on an average daily trading volume, of 53,582 shares, the days-to-cover ratio is presently 15.8 days. Approximately 1.3% of the company’s shares are short sold.

Solesence Stock Performance

SLSN opened at $1.34 on Friday. The stock has a market capitalization of $94.65 million, a price-to-earnings ratio of 67.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 0.74. The business has a fifty day moving average price of $1.13 and a 200 day moving average price of $1.78. Solesence has a 12 month low of $0.78 and a 12 month high of $5.63.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Solesence in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Trading of Solesence

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 101,868 shares during the last quarter. Geode Capital Management LLC purchased a new position in shares of Solesence in the 2nd quarter valued at approximately $1,871,000. State Street Corp grew its stake in shares of Solesence by 145.5% in the 4th 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. Modern Wealth Management LLC purchased a new position in shares of Solesence in the 2nd quarter valued at approximately $119,000. Finally, New York State Common Retirement Fund acquired a new position in Solesence during the 2nd quarter worth approximately $95,000. 70.22% of the stock is owned by hedge funds and other 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.