Solana (NASDAQ:HSDT) Price Target Raised to $4.00

Solana (NASDAQ:HSDT) had its price objective upped by B. Riley Financial from $3.50 to $4.00 in a research report report published on Tuesday,Benzinga reports. B. Riley Financial currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Solana from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Solana in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.00.

Solana Trading Up 0.7%

NASDAQ HSDT opened at $2.90 on Tuesday. The firm has a market capitalization of $175.33 million, a P/E ratio of -0.10 and a beta of 1.06. The firm’s fifty day moving average price is $2.04 and its two-hundred day moving average price is $1.96. Solana has a 1 year low of $1.18 and a 1 year high of $20.50.

Solana (NASDAQ:HSDT) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.36). Solana had a negative net margin of 1,302.78% and a negative return on equity of 41.86%. The firm had revenue of $2.53 million during the quarter, compared to the consensus estimate of $3.50 million. On average, research analysts anticipate that Solana will post -0.25 EPS for the current fiscal year.

Institutional Trading of Solana

Several hedge funds have recently added to or reduced their stakes in the company. Saba Capital Management L.P. bought a new stake in shares of Solana in the first quarter valued at about $113,000. Yorkville Advisors Global LP acquired a new position in shares of Solana in the first quarter valued at about $1,877,000. Kathmere Capital Management LLC bought a new position in Solana during the first quarter worth about $7,949,000. Rockefeller Capital Management L.P. increased its position 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 acquiring an additional 441,154 shares during the period. Finally, Aristides Capital LLC acquired a new stake in Solana in the 4th quarter worth about $137,000. 18.63% of the stock is owned by institutional investors and hedge funds.

Solana Company Profile

Helius Medical Technologies, Inc, a neurotechnology company, focuses on developing, licensing, and acquiring non-implantable technologies for the treatment of symptoms caused by neurological disease or trauma. The company's product is Portable Neuromodulation Stimulator, a non-surgical medical device intended for use as a short term treatment of gait deficit due to symptoms from multiple sclerosis and balance deficit due to mild-to-moderate traumatic brain injury, as well as to be used in conjunction with supervised therapeutic exercise.