Solana (NASDAQ:HSDT) Now Covered by Analysts at Maxim Group

Maxim Group started coverage on shares of Solana (NASDAQ:HSDT) in a research report sent to investors on Monday morning, Marketbeat reports. The firm issued a buy rating and a $4.00 price objective on the stock.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Solana in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.00.

Solana Stock Up 2.2%

Shares of NASDAQ HSDT opened at $1.90 on Monday. The firm has a market cap of $78.47 million, a price-to-earnings ratio of 0.00 and a beta of 0.90. Solana has a 52-week low of $1.59 and a 52-week high of $273.75. The company’s 50-day simple moving average is $2.13 and its 200-day simple moving average is $5.08.

Solana (NASDAQ:HSDT) last posted its quarterly earnings results on Monday, March 30th. The company reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($26.50) by $30.75. The business had revenue of $5.23 million for the quarter, compared to analyst estimates of $0.14 million.

Hedge Funds Weigh In On Solana

A number of institutional investors have recently bought and sold shares of the company. 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 purchasing an additional 441,154 shares during the period. Aristides Capital LLC purchased a new position in Solana during the fourth quarter worth about $137,000. XTX Topco Ltd purchased a new position in Solana during the fourth quarter worth about $140,000. Arrington Capital Management LLC purchased a new position in Solana during the fourth quarter worth about $1,904,000. Finally, Cetera Investment Advisers purchased a new position in Solana during the fourth quarter worth about $347,000. 18.63% of the stock is owned by hedge funds and other institutional investors.

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.