Solana (NASDAQ:HSDT) Research Coverage Started at B. Riley Financial

B. Riley Financial assumed coverage on shares of Solana (NASDAQ:HSDT) in a research note issued to investors on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $3.00 target price on the stock.

Several other research analysts also recently issued reports on the company. Maxim Group initiated coverage on Solana in a research note on Monday, April 6th. They issued a “buy” rating and a $4.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solana in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.50.

Solana Trading Up 4.9%

Shares of NASDAQ HSDT opened at $2.16 on Thursday. The company has a market cap of $118.56 million, a price-to-earnings ratio of 0.00 and a beta of 0.90. Solana has a 12 month low of $1.59 and a 12 month high of $265.50. The stock has a 50-day moving average price of $2.03 and a two-hundred day moving average price of $3.75.

Solana (NASDAQ:HSDT) last released its quarterly earnings data 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. Solana had a negative return on equity of 104.96% and a negative net margin of 679.54%.The company had revenue of $5.23 million during the quarter, compared to the consensus estimate of $0.14 million.

Institutional Trading of Solana

Institutional investors have recently added to or reduced their stakes in the stock. Arrington Capital Management LLC bought a new position in shares of Solana during the 4th quarter worth approximately $1,904,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Solana by 11,764.1% during the 4th 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 in the last quarter. LPL Financial LLC boosted its holdings in shares of Solana by 120.1% during the 4th quarter. LPL Financial LLC now owns 382,255 shares of the company’s stock worth $1,105,000 after buying an additional 208,558 shares in the last quarter. Geode Capital Management LLC bought a new position in shares of Solana during the 4th quarter worth approximately $1,006,000. Finally, Franchise GP Ltd bought a new position in shares of Solana during the 4th quarter worth approximately $653,000. 18.63% of the stock is currently owned by institutional investors.

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.