Short Interest in Solana Company (NASDAQ:HSDT) Declines By 27.5%

Solana Company (NASDAQ:HSDT) saw a significant drop in short interest in January. As of January 15th, there was short interest totaling 697,852 shares, a drop of 27.5% from the December 31st total of 963,146 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average trading volume of 444,294 shares, the short-interest ratio is currently 1.6 days. Based on an average trading volume of 444,294 shares, the short-interest ratio is currently 1.6 days. Currently, 2.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

HSDT has been the subject of several research reports. Wall Street Zen raised shares of Solana from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Solana in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Solana Price Performance

Shares of HSDT stock opened at $2.75 on Friday. Solana has a 1 year low of $2.62 and a 1 year high of $592.50. The stock’s 50 day simple moving average is $3.30 and its two-hundred day simple moving average is $7.03. The company has a market cap of $113.58 million, a PE ratio of 0.00 and a beta of 1.03.

Solana (NASDAQ:HSDT) last announced its earnings results on Tuesday, November 18th. The company reported ($32.89) EPS for the quarter, topping analysts’ consensus estimates of ($50.50) by $17.61. The firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.11 million. Solana had a negative return on equity of 699.93% and a negative net margin of 39,358.88%.

Hedge Funds Weigh In On Solana

Large investors have recently made changes to their positions in the company. Wealthspire Advisors LLC purchased a new stake in Solana in the 2nd quarter worth about $55,000. Grant Private Wealth Management Inc bought a new position in shares of Solana during the fourth quarter valued at approximately $46,000. Quattro Financial Advisors LLC purchased a new stake in shares of Solana in the fourth quarter worth approximately $604,000. Finally, Franchise GP Ltd purchased a new stake in shares of Solana in the fourth quarter worth approximately $653,000. 18.63% of the stock is owned by hedge funds and other 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.