Solana Company (NASDAQ:HSDT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Solana Company (NASDAQ:HSDT) have received an average rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $3.75.

A number of research firms recently weighed in on HSDT. Weiss Ratings reissued a “sell (e+)” rating on shares of Solana in a report on Friday, July 17th. Wall Street Zen downgraded shares of Solana from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. B Riley restated a “buy” rating on shares of Solana in a research report on Thursday, September 3rd. Finally, B. Riley Financial increased their price target on shares of Solana from $2.50 to $3.50 and gave the company a “buy” rating in a report on Thursday, September 3rd.

Institutional Investors Weigh In On Solana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HSDT. Saba Capital Management L.P. bought a new stake in shares of Solana in the 1st quarter valued at approximately $113,000. Yorkville Advisors Global LP purchased a new stake in Solana during the 1st quarter valued at $1,877,000. Kathmere Capital Management LLC purchased a new stake in Solana during the 1st quarter valued at $7,949,000. Rockefeller Capital Management L.P. lifted its position in Solana by 11,764.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 444,904 shares of the company’s stock worth $1,286,000 after buying an additional 441,154 shares during the last quarter. Finally, Aristides Capital LLC bought a new stake in Solana in the fourth quarter worth $137,000. 18.63% of the stock is currently owned by hedge funds and other institutional investors.

Solana Trading Down 1.8%

Shares of HSDT stock opened at $2.20 on Thursday. The stock has a market capitalization of $133.01 million, a price-to-earnings ratio of -0.07 and a beta of 1.06. Solana has a 12-month low of $1.18 and a 12-month high of $25.50. The stock’s 50-day moving average price is $1.86 and its 200-day moving average price is $1.92.

Solana (NASDAQ:HSDT) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.36). Solana had a negative net margin of 1,302.78% and a negative return on equity of 41.86%. The firm had revenue of $2.53 million for the quarter, compared to the consensus estimate of $3.50 million. As a group, research analysts predict that Solana will post -0.27 EPS for the current fiscal year.

About Solana

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.