Research Solutions (NASDAQ:RSSS) Price Target Increased to $6.00 by Analysts at Maxim Group

Research Solutions (NASDAQ:RSSS) had its price objective raised by equities researchers at Maxim Group from $5.00 to $6.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price target would suggest a potential upside of 104.78% from the stock’s previous close.

Separately, Lake Street Capital began coverage on shares of Research Solutions in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $5.00 price target on the stock.

Research Solutions Stock Performance

Shares of RSSS stock traded up $0.10 on Friday, hitting $2.93. The company’s stock had a trading volume of 225,411 shares, compared to its average volume of 58,574. The company has a market capitalization of $95.58 million, a PE ratio of -144.00 and a beta of 0.62. Research Solutions has a fifty-two week low of $1.80 and a fifty-two week high of $3.50. The stock’s 50 day moving average is $3.07 and its 200-day moving average is $2.77.

Insider Activity

In related news, major shareholder Peter Derycz sold 40,402 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2.87, for a total value of $115,953.74. Following the completion of the transaction, the insider now owns 2,984,680 shares in the company, valued at approximately $8,566,031.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 26.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Cove Street Capital LLC increased its stake in shares of Research Solutions by 50.9% in the 3rd quarter. Cove Street Capital LLC now owns 3,557,847 shares of the company’s stock valued at $8,147,000 after acquiring an additional 1,200,350 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in Research Solutions in the 1st quarter valued at about $561,000. First Dallas Securities Inc. bought a new stake in Research Solutions in the 3rd quarter valued at about $387,000. Ridgewood Investments LLC increased its position in shares of Research Solutions by 8.1% during 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 period. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Research Solutions by 5.1% during 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 period. Institutional investors 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.