Solstice Advanced Mat (NASDAQ:SOLS – Get Free Report) saw a large growth in short interest in July. As of July 15th, there was short interest totaling 11,325,520 shares, a growth of 102.2% from the June 30th total of 5,601,968 shares. Approximately 7.1% of the company’s stock are short sold. Based on an average daily volume of 5,960,196 shares, the days-to-cover ratio is currently 1.9 days.
Institutional Trading of Solstice Advanced Mat
A number of institutional investors and hedge funds have recently modified their holdings of SOLS. Vanguard Group Inc. bought a new position in Solstice Advanced Mat in the 4th quarter valued at $893,275,000. State Street Corp bought a new stake in shares of Solstice Advanced Mat during the 4th quarter worth $245,276,000. Morgan Stanley purchased a new position in shares of Solstice Advanced Mat in the 4th quarter worth about $195,151,000. Madison Avenue Partners LP purchased a new position in shares of Solstice Advanced Mat in the 4th quarter worth about $135,172,000. Finally, UBS Group AG bought a new position in Solstice Advanced Mat during the fourth quarter valued at about $130,269,000.
Solstice Advanced Mat Stock Up 4.4%
Solstice Advanced Mat stock traded up $2.47 during trading on Thursday, hitting $58.13. 1,313,160 shares of the company were exchanged, compared to its average volume of 2,907,119. Solstice Advanced Mat has a 52 week low of $40.43 and a 52 week high of $90.80. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $9.23 billion and a P/E ratio of 65.14. The business’s 50 day moving average is $75.33 and its 200 day moving average is $74.63.
Solstice Advanced Mat Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Solstice Advanced Mat’s dividend payout ratio is currently 33.71%.
Analysts Set New Price Targets
SOLS has been the subject of a number of research analyst reports. UBS Group reaffirmed a “buy” rating on shares of Solstice Advanced Mat in a research report on Tuesday, July 21st. Morgan Stanley cut Solstice Advanced Mat to a “buy” rating in a research note on Monday, July 13th. Royal Bank Of Canada boosted their price objective on Solstice Advanced Mat from $100.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Truist Financial set a $75.00 target price on Solstice Advanced Mat and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Vertical Research upgraded Solstice Advanced Mat from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.
View Our Latest Stock Report on Solstice Advanced Mat
About Solstice Advanced Mat
Solstice Advanced Materials is a leading global specialty materials company that advances science for smarter outcomes. Solstice offers high-performance solutions that enable critical industries and applications, including refrigerants, semiconductor manufacturing, data center cooling, nuclear power, protective fibers, healthcare packaging and more.
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