Solana Company (NASDAQ:HSDT) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on HSDT, with three buys, one hold and one sell; the average 12-month price target is $3.25.
• Shares recently traded at $2.08, while the stock has ranged from $1.18 to $25.50 over the past year and has a market capitalization of approximately $125.5 million.
• The company reported a larger-than-expected quarterly loss of $0.38 per share and revenue of $2.53 million, missing analyst estimates of a $0.02 loss and $3.50 million in revenue.

Solana Company (NASDAQ:HSDT - Get Free Report) has received a consensus recommendation of "Hold" from the five research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $3.25.

A number of equities analysts recently commented on the stock. Wall Street Zen lowered shares of Solana from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings restated a "sell (e+)" rating on shares of Solana in a research report on Friday, July 17th. B. Riley Financial lowered their target price on shares of Solana from $3.00 to $2.50 and set a "buy" rating on the stock in a report on Monday, August 17th. Finally, B Riley reiterated a "buy" rating on shares of Solana in a research report on Thursday.

Solana Stock Performance

NASDAQ:HSDT traded down $0.01 during mid-day trading on Thursday, hitting $2.08. 92,900 shares of the stock were exchanged, compared to its average volume of 348,541. The firm's 50-day simple moving average is $1.81 and its 200 day simple moving average is $1.92. The stock has a market capitalization of $125.45 million, a price-to-earnings ratio of -0.07 and a beta of 1.06. Solana has a fifty-two week low of $1.18 and a fifty-two week high of $25.50.

Solana (NASDAQ:HSDT - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.36). The firm had revenue of $2.53 million for the quarter, compared to the consensus estimate of $3.50 million. Solana had a negative return on equity of 41.86% and a negative net margin of 1,302.78%. On average, analysts predict that Solana will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Solana

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC acquired a new position in Solana in the 4th quarter valued at $1,006,000. LPL Financial LLC grew 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 purchasing an additional 208,558 shares in the last quarter. Aristides Capital LLC bought a new position in shares of Solana in the fourth quarter worth $137,000. State Street Corp bought a new position in shares of Solana in the fourth quarter worth $464,000. Finally, Marshall Wace LLP bought a new position in shares of Solana in the fourth quarter worth $195,000. Institutional investors own 18.63% of the company's stock.

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.

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