Solana (NASDAQ:HSDT) Upgraded at B. Riley Financial

B. Riley Financial upgraded shares of Solana (NASDAQ:HSDT) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

HSDT has been the subject of several other reports. Maxim Group began coverage on shares of Solana in a report on Monday, April 6th. They set a “buy” rating and a $4.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solana in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

Solana Trading Up 4.9%

Shares of NASDAQ HSDT opened at $2.16 on Wednesday. The stock has a market cap of $118.56 million, a price-to-earnings ratio of 0.00 and a beta of 0.90. The company has a 50 day simple moving average of $2.03 and a two-hundred day simple moving average of $3.85. Solana has a 12 month low of $1.59 and a 12 month high of $265.50.

Solana (NASDAQ:HSDT) last posted its earnings results on Tuesday, March 31st. The company reported $4.25 earnings per share for the quarter, beating the consensus estimate of ($26.50) by $30.75. The firm had revenue of $5.23 million during 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%.

Institutional Investors Weigh In On Solana

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD acquired a new stake in Solana in the 4th quarter valued at $46,000. Grant Private Wealth Management Inc acquired a new stake in Solana in the 4th quarter valued at $46,000. OMERS ADMINISTRATION Corp acquired a new stake in Solana in the 4th quarter valued at $88,000. Aristides Capital LLC acquired a new stake in Solana in the 4th quarter valued at $137,000. Finally, XTX Topco Ltd acquired a new stake in Solana in the 4th quarter valued at $140,000. Institutional investors and hedge funds own 18.63% of the company’s stock.

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.