Yorkville Advisors Global LP Invests $1.88 Million in Solana Company $HSDT

Yorkville Advisors Global LP bought a new position in Solana Company (NASDAQ:HSDT) during the first quarter, Holdings Channel reports. The fund bought 1,085,000 shares of the company’s stock, valued at approximately $1,877,000. Solana comprises about 1.1% of Yorkville Advisors Global LP’s holdings, making the stock its 14th largest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quattro Financial Advisors LLC purchased a new stake in shares of Solana during the fourth quarter valued at $604,000. Franchise GP Ltd purchased a new position in Solana in the 4th quarter worth about $653,000. Geode Capital Management LLC purchased a new position in Solana in the 4th quarter worth about $1,006,000. LPL Financial LLC raised its holdings in Solana by 120.1% during the 4th quarter. LPL Financial LLC now owns 382,255 shares of the company’s stock worth $1,105,000 after buying an additional 208,558 shares during the period. Finally, Aristides Capital LLC acquired a new stake in Solana during the 4th quarter worth about $137,000. 18.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Maxim Group initiated coverage on shares of Solana in a research note on Monday, April 6th. They set a “buy” rating and a $4.00 price objective for the company. Zacks Research upgraded shares of Solana to a “hold” rating in a report on Monday, April 27th. B. Riley Financial began coverage on shares of Solana in a research note on Thursday, April 23rd. They issued a “buy” rating and a $3.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Solana in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Solana presently has a consensus rating of “Moderate Buy” and an average price target of $3.50.

Solana Price Performance

NASDAQ:HSDT opened at $1.73 on Thursday. The stock has a market cap of $101.01 million, a PE ratio of -0.02 and a beta of 1.03. Solana Company has a fifty-two week low of $1.19 and a fifty-two week high of $25.50. The stock’s 50-day moving average is $1.78 and its two-hundred day moving average is $2.13.

Solana (NASDAQ:HSDT) last issued its earnings results on Friday, May 15th. The company reported ($1.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.96). The company had revenue of $3.62 million for the quarter, compared to analyst estimates of $3.40 million. Solana had a negative net margin of 1,427.15% and a negative return on equity of 67.57%. On average, equities research analysts anticipate that Solana Company will post -0.09 earnings per share for the current year.

Solana Company Profile

Helius Medical Technologies, Inc (NASDAQ: HSDT) is a medical technology company focused on developing and commercializing non‐invasive neuromodulation platforms designed to enhance neurorehabilitation. Its flagship product, the Portable Neuromodulation Stimulator (PoNS®), delivers mild electrical pulses to the tongue to stimulate neural pathways in conjunction with targeted physical therapy. The device is intended to improve neuroplasticity and support recovery in patients with neurological conditions.

The PoNS system is cleared for use in the United States, Canada and the European Union and is prescribed through specialized rehabilitation clinics.