Helius Medical Technologies, Inc. (NASDAQ:HSDT) Short Interest Update

Helius Medical Technologies, Inc. (NASDAQ:HSDT) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 111,800 shares, an increase of 208.0% from the February 29th total of 36,300 shares. Based on an average daily volume of 297,300 shares, the days-to-cover ratio is currently 0.4 days. Approximately 13.2% of the shares of the stock are short sold.

Helius Medical Technologies Stock Up 4.5 %

Shares of HSDT traded up $0.25 during mid-day trading on Thursday, reaching $5.85. The company’s stock had a trading volume of 2,000 shares, compared to its average volume of 315,434. The business has a fifty day moving average of $6.08 and a 200 day moving average of $7.08. The company has a market cap of $4.15 million, a price-to-earnings ratio of -0.26 and a beta of 1.41. Helius Medical Technologies has a 1 year low of $4.29 and a 1 year high of $14.44.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm raised their price objective on Helius Medical Technologies to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th.

Institutional Trading of Helius Medical Technologies

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. purchased a new stake in shares of Helius Medical Technologies in the third quarter valued at $108,000. Renaissance Technologies LLC lifted its holdings in shares of Helius Medical Technologies by 2,047.2% in the second quarter. Renaissance Technologies LLC now owns 227,600 shares of the company’s stock valued at $44,000 after purchasing an additional 217,000 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Helius Medical Technologies by 8,297.9% in the third quarter. BlackRock Inc. now owns 255,381 shares of the company’s stock valued at $71,000 after purchasing an additional 252,340 shares in the last quarter. Hedge funds and other institutional investors own 18.63% of the company’s stock.

About Helius Medical Technologies

Helius Medical Technologies, Inc, a neurotechnology company, focuses on developing, licensing, and acquiring non-implantable technologies for the treatment of symptoms caused by neurological disease or trauma. The company's product is Portable Neuromodulation Stimulator, a non-surgical medical device intended for use as a short term treatment of gait deficit due to symptoms from multiple sclerosis and balance deficit due to mild-to-moderate traumatic brain injury, as well as to be used in conjunction with supervised therapeutic exercise.