Solana (NASDAQ:HSDT) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Solana (NASDAQ:HSDT) to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on HSDT. Maxim Group started coverage on shares of Solana in a report on Monday, April 6th. They set a “buy” rating and a $4.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Solana in a research report on Tuesday, April 21st. Finally, B. Riley Financial began coverage on shares of Solana in a research report on Thursday, April 23rd. They set a “buy” rating and a $3.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $3.50.

Solana Stock Down 1.9%

HSDT stock opened at $2.08 on Monday. Solana has a 12 month low of $1.59 and a 12 month high of $265.50. The firm has a market cap of $114.17 million, a P/E ratio of 0.00 and a beta of 0.90. The company’s 50-day moving average price is $2.03 and its two-hundred day moving average price is $3.46.

Solana (NASDAQ:HSDT) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($26.50) by $30.75. The company had revenue of $5.23 million for the quarter, compared to analyst estimates of $0.14 million. Solana had a negative net margin of 679.54% and a negative return on equity of 104.96%. Equities analysts predict that Solana will post -0.5 EPS for the current year.

Institutional Investors Weigh In On Solana

Hedge funds have recently added to or reduced their stakes in the business. Grant Private Wealth Management Inc acquired a new position in shares of Solana in the 4th quarter worth approximately $46,000. Quattro Financial Advisors LLC acquired a new position in shares of Solana in the 4th quarter worth approximately $604,000. Franchise GP Ltd acquired a new position in shares of Solana in the 4th quarter worth approximately $653,000. Geode Capital Management LLC acquired a new position in shares of Solana in the 4th quarter worth approximately $1,006,000. Finally, LPL Financial LLC lifted its position in shares of Solana by 120.1% in the 4th quarter. LPL Financial LLC now owns 382,255 shares of the company’s stock worth $1,105,000 after purchasing an additional 208,558 shares during the period. 18.63% of the stock is currently owned by institutional investors and hedge funds.

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.