Solana Company (NASDAQ:HSDT) Given Average Rating of “Hold” by Analysts

Solana Company (NASDAQ:HSDT) has received a consensus recommendation of “Hold” from the five analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $3.25.

HSDT has been the subject of several research analyst reports. B. Riley Financial lowered their price objective on shares of Solana from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Monday, August 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Solana in a research note on Friday, July 17th. Wall Street Zen downgraded Solana from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, B Riley reiterated a “buy” rating on shares of Solana in a research report on Thursday.

Solana Stock Down 0.2%

Shares of NASDAQ:HSDT traded down $0.01 during midday trading on Thursday, hitting $2.08. The stock had a trading volume of 92,900 shares, compared to its average volume of 348,541. The company’s 50-day moving average price is $1.81 and its 200-day moving average price is $1.92. The company has a market capitalization of $125.45 million, a P/E ratio of -0.07 and a beta of 1.06. Solana has a fifty-two week low of $1.18 and a fifty-two week high of $25.50.

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

Hedge Funds Weigh In On Solana

Institutional investors have recently added to or reduced their stakes in the stock. Kathmere Capital Management LLC acquired a new stake in Solana in the first quarter valued at approximately $7,949,000. Yorkville Advisors Global LP acquired a new position in shares of Solana in the first quarter worth approximately $1,877,000. Arrington Capital Management LLC bought a new stake in shares of Solana in the 4th quarter valued at $1,904,000. Rockefeller Capital Management L.P. raised its stake in Solana by 11,764.1% during 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, Geode Capital Management LLC bought a new position in Solana during the fourth quarter worth $1,006,000. 18.63% of the stock is currently owned by institutional investors and hedge funds.

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.