Yorkville Advisors Global LP Invests $1.88 Million in Solana Company $HSDT

Key Points

• Yorkville Advisors Global LP bought 1,085,000 shares of Solana Company in the first quarter, a position worth about $1.88 million. The stake represents roughly 1.1% of Yorkville’s portfolio and about 1.98% of Solana.
• Other institutional investors have also been active in HSDT, with several new or larger positions reported. Institutional ownership now stands at 18.63% of the stock.
• Analyst sentiment is mixed but tilts positive overall: the stock has a Moderate Buy consensus with a $3.50 average price target, even as shares traded around $1.73 and the company reported a wider-than-expected quarterly loss.

Yorkville Advisors Global LP purchased a new stake in shares of Solana Company (NASDAQ:HSDT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,085,000 shares of the company's stock, valued at approximately $1,877,000. Solana accounts for approximately 1.1% of Yorkville Advisors Global LP's investment portfolio, making the stock its 14th largest holding. Yorkville Advisors Global LP owned approximately 1.98% of Solana at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of HSDT. Arrington Capital Management LLC acquired a new stake in Solana in the fourth quarter worth about $1,904,000. Rockefeller Capital Management L.P. increased its stake in Solana by 11,764.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 444,904 shares of the company's stock valued at $1,286,000 after buying an additional 441,154 shares during the period. Kathmere Capital Management LLC acquired a new position in Solana during the 1st quarter valued at about $7,949,000. Franchise GP Ltd bought a new stake in shares of Solana during the 4th quarter worth about $653,000. Finally, Quattro Financial Advisors LLC bought a new stake in shares of Solana during the 4th quarter worth about $604,000. 18.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Solana to a "hold" rating in a report on Monday, April 27th. Maxim Group began coverage on Solana in a report on Monday, April 6th. They set a "buy" rating and a $4.00 target price on the stock. B. Riley Financial assumed coverage on Solana in a research report on Thursday, April 23rd. They issued a "buy" rating and a $3.00 target price for the company. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Solana in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $3.50.

Solana Trading Down 1.1%

Shares of Solana stock opened at $1.73 on Thursday. Solana Company has a 52 week low of $1.19 and a 52 week high of $25.50. The stock has a market cap of $101.01 million, a PE ratio of -0.02 and a beta of 1.03. The company's 50-day moving average price is $1.78 and its two-hundred day moving average price is $2.13.

Solana (NASDAQ:HSDT - Get Free Report) last posted 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). The business had revenue of $3.62 million for the quarter, compared to the consensus estimate of $3.40 million. Solana had a negative net margin of 1,427.15% and a negative return on equity of 67.57%. On average, equities analysts predict that Solana Company will post -0.09 EPS for the current fiscal year.

Solana 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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