Solana (NASDAQ:HSDT) Posts Earnings Results

Solana (NASDAQ:HSDT) announced its earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05), Zacks reports. Solana had a negative net margin of 1,302.78% and a negative return on equity of 41.86%.

Solana Stock Performance

Shares of HSDT stock traded up $0.04 on Wednesday, reaching $1.86. The stock had a trading volume of 766,366 shares, compared to its average volume of 401,263. The stock has a market cap of $112.98 million, a P/E ratio of -0.06 and a beta of 1.10. Solana has a 1 year low of $1.19 and a 1 year high of $5.46. The company has a 50 day simple moving average of $2.37 and a 200 day simple moving average of $2.07.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HSDT. B. Riley Financial lifted their price objective on Solana from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Solana in a research note on Thursday, October 15th. Finally, Wall Street Zen lowered shares of Solana from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.00.

Solana Company Profile

Solana is a digital asset company focused on building a treasury centered on Solana’s native cryptocurrency, SOL. Its activities include acquiring and holding SOL and developing strategies intended to provide investors with exposure to the Solana blockchain ecosystem through a publicly traded company. The company is associated with the Solana network, a blockchain platform designed to support decentralized applications, digital assets and smart contracts. Its business may also include participating in the broader Solana ecosystem and pursuing opportunities related to blockchain infrastructure and digital asset growth.