B. Riley Financial Issues Positive Forecast for Solana (NASDAQ:HSDT) Stock Price

Solana (NASDAQ:HSDT) had its target price lifted by investment analysts at B. Riley Financial from $3.50 to $4.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s target price suggests a potential upside of 22.70% from the company’s previous close.

HSDT has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solana in a research note on Friday, July 17th. Wall Street Zen lowered shares of Solana from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.00.

Solana Trading Up 4.8%

Shares of Solana stock traded up $0.15 during trading hours on Tuesday, reaching $3.26. 446,471 shares of the company’s stock were exchanged, compared to its average volume of 363,593. Solana has a fifty-two week low of $1.18 and a fifty-two week high of $20.50. The stock has a market cap of $197.10 million, a P/E ratio of -0.11 and a beta of 1.06. The company has a 50 day moving average of $1.97 and a two-hundred day moving average of $1.95.

Solana (NASDAQ:HSDT) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.50 million. As a group, analysts expect that Solana will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HSDT. Kathmere Capital Management LLC bought a new position in shares of Solana in the first quarter worth $7,949,000. Arrington Capital Management LLC bought a new stake in Solana in the fourth quarter valued at approximately $1,904,000. Yorkville Advisors Global LP bought a new stake in Solana in the 1st quarter worth $1,877,000. Rockefeller Capital Management L.P. increased its position in shares of Solana by 11,764.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 444,904 shares of the company’s stock valued at $1,286,000 after acquiring an additional 441,154 shares during the period. Finally, Clear Street Group Inc. bought a new position in Solana during the 4th quarter valued at approximately $218,000. 18.63% of the stock is owned by institutional investors.

Solana Company Profile

Helius Medical Technologies, Inc, a neurotechnology company, focuses on developing, licensing, and acquiring non-implantable technologies for the treatment of symptoms caused by neurological disease or trauma. The company's product is Portable Neuromodulation Stimulator, a non-surgical medical device intended for use as a short term treatment of gait deficit due to symptoms from multiple sclerosis and balance deficit due to mild-to-moderate traumatic brain injury, as well as to be used in conjunction with supervised therapeutic exercise.