Solesence (NASDAQ:SLSN) Shares Climb 0.2% – Should You Buy?

Solesence, Inc. (NASDAQ:SLSN – Get Free Report) shot up 0.2% on Wednesday. The stock traded as high as $0.84 and last traded at $0.8159. Approximately 6,069 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 52,910 shares. The stock had previously closed at $0.8140.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Solesence in a report on Monday. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Solesence has a consensus rating of “Sell”.

Read Our Latest Stock Analysis on SLSN

Solesence Stock Performance

The business’s 50 day moving average price is $0.86 and its 200-day moving average price is $1.07.

Institutional Investors Weigh In On Solesence

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP lifted its holdings in Solesence by 697.7% in the 2nd quarter. Susquehanna International Group LLP now owns 111,340 shares of the company’s stock worth $82,000 after buying an additional 97,382 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Solesence in the 2nd quarter valued at about $233,000. Finally, BlackRock Inc. acquired a new stake in shares of Solesence during the second quarter valued at about $341,000. Hedge funds and other institutional investors own 70.22% of the company’s stock.

About Solesence

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Solesence Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solesence and related companies with MarketBeat.com's FREE daily email newsletter.