Arrington Capital Management LLC Makes New $1.90 Million Investment in Solana Company $HSDT

Arrington Capital Management LLC bought a new position in Solana Company (NASDAQ:HSDT) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 658,908 shares of the company’s stock, valued at approximately $1,904,000. Solana makes up 1.8% of Arrington Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Arrington Capital Management LLC owned approximately 1.60% of Solana at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Grant Private Wealth Management Inc bought a new position in shares of Solana in the 4th quarter worth $46,000. Cetera Investment Advisers bought a new position in shares of Solana in the 4th quarter worth $347,000. LPL Financial LLC lifted its holdings in shares of Solana by 120.1% in the 4th quarter. LPL Financial LLC now owns 382,255 shares of the company’s stock worth $1,105,000 after purchasing an additional 208,558 shares in the last quarter. Geode Capital Management LLC bought a new position in shares of Solana in the 4th quarter worth $1,006,000. Finally, State Street Corp bought a new position in shares of Solana in the 4th quarter worth $464,000. 18.63% of the stock is currently owned by institutional investors.

Solana Trading Down 1.8%

Shares of NASDAQ:HSDT opened at $1.60 on Thursday. The stock’s fifty day simple moving average is $1.96 and its two-hundred day simple moving average is $2.41. Solana Company has a 1-year low of $1.19 and a 1-year high of $25.50. The stock has a market cap of $93.42 million, a PE ratio of -0.01 and a beta of 1.06.

Solana (NASDAQ:HSDT) last issued its quarterly earnings data on Friday, May 15th. The company reported ($1.30) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.96). Solana had a negative net margin of 1,427.15% and a negative return on equity of 67.57%. The company had revenue of $3.62 million for the quarter, compared to the consensus estimate of $3.40 million. On average, sell-side analysts forecast that Solana Company will post -0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HSDT has been the topic of a number of recent research reports. Zacks Research upgraded Solana to a “hold” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Solana in a report on Tuesday, April 21st. B. Riley Financial initiated coverage on Solana in a report on Thursday, April 23rd. They issued a “buy” rating and a $3.00 target price on the stock. Finally, Maxim Group started coverage on Solana in a report on Monday, April 6th. They issued a “buy” rating and a $4.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Solana currently has an average rating of “Moderate Buy” and an average price target of $3.50.

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.