Research Solutions (NASDAQ:RSSS) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Research Solutions (NASDAQ:RSSS) issued its quarterly earnings results on Wednesday. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02, MarketWatch Earnings reports. The company had revenue of $9.96 million for the quarter, compared to the consensus estimate of $9.70 million. Research Solutions had a net margin of 1.52% and a return on equity of 9.88%. During the same period in the prior year, the firm posted ($0.02) EPS.

Research Solutions Stock Performance

Research Solutions stock traded up $0.06 during trading hours on Friday, hitting $2.60. The company had a trading volume of 14,258 shares, compared to its average volume of 19,932. The firm has a market cap of $76.70 million, a P/E ratio of 127.00 and a beta of 0.56. Research Solutions has a 1 year low of $1.80 and a 1 year high of $2.65. The company has a 50-day moving average price of $2.18 and a two-hundred day moving average price of $2.13.

Institutional Investors Weigh In On Research Solutions

Several large investors have recently added to or reduced their stakes in RSSS. Vanguard Group Inc. lifted its position in Research Solutions by 42.4% during the first quarter. Vanguard Group Inc. now owns 850,026 shares of the company’s stock valued at $1,810,000 after acquiring an additional 252,932 shares during the last quarter. Needham Investment Management LLC increased its stake in Research Solutions by 11.3% during the 4th quarter. Needham Investment Management LLC now owns 480,000 shares of the company’s stock valued at $926,000 after purchasing an additional 48,583 shares in the last quarter. Royal Bank of Canada increased its stake in Research Solutions by 15.6% during the 3rd quarter. Royal Bank of Canada now owns 224,136 shares of the company’s stock valued at $457,000 after purchasing an additional 30,290 shares in the last quarter. Geode Capital Management LLC increased its stake in Research Solutions by 30.8% during the 2nd quarter. Geode Capital Management LLC now owns 89,231 shares of the company’s stock valued at $182,000 after purchasing an additional 21,034 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Research Solutions by 8.1% during the 1st quarter. Renaissance Technologies LLC now owns 79,418 shares of the company’s stock valued at $160,000 after purchasing an additional 5,983 shares in the last quarter. 34.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on RSSS shares. Roth Mkm reiterated a “buy” rating and set a $4.35 price target on shares of Research Solutions in a report on Thursday. Maxim Group reiterated a “buy” rating and set a $5.00 price target on shares of Research Solutions in a report on Thursday.

About Research Solutions

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.