Solana (NASDAQ:HSDT) Coverage Initiated by Analysts at Maxim Group

Key Points

• Maxim Group initiated coverage on Helius Medical Technologies (ticker HSDT — the article refers to it as "Solana") with a Buy rating and a $4.00 price target, implying roughly 115% upside from the prior close.
• Analyst views diverge: Weiss Ratings reissued a Sell (e+), leaving the stock with one Buy and one Sell for an average rating of Hold and a consensus target of $4.00.
• Market and results snapshot: HSDT opened at $1.86 (12‑month range $1.59–$307.50) with a market cap of about $76.8M, and recently reported quarterly EPS of $4.25 (vs. expected −$26.50) and revenue of $5.23M (vs. $0.14M expected).

Analysts at Maxim Group initiated coverage on shares of Solana (NASDAQ:HSDT - Get Free Report) in a note issued to investors on Monday. The brokerage set a "buy" rating and a $4.00 price target on the stock. Maxim Group's target price points to a potential upside of 115.05% from the company's previous close.

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Solana in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $4.00.

Solana Stock Performance

Shares of HSDT stock opened at $1.86 on Monday. Solana has a 12 month low of $1.59 and a 12 month high of $307.50. The firm has a market capitalization of $76.82 million, a PE ratio of 0.00 and a beta of 0.90. The firm has a fifty day simple moving average of $2.15 and a two-hundred day simple moving average of $5.23.

Solana (NASDAQ:HSDT - Get Free Report) last issued its quarterly earnings data on Monday, March 30th. The company reported $4.25 EPS for the quarter, topping the consensus estimate of ($26.50) by $30.75. The company had revenue of $5.23 million during the quarter, compared to analysts' expectations of $0.14 million.

Institutional Investors Weigh In On Solana

Institutional investors have recently modified their holdings of the stock. Quattro Financial Advisors LLC bought a new stake in shares of Solana during the fourth quarter valued at approximately $604,000. Rockefeller Capital Management L.P. raised its stake in shares of Solana by 11,764.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 444,904 shares of the company's stock worth $1,286,000 after purchasing an additional 441,154 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Solana during the fourth quarter valued at $195,000. Cetera Investment Advisers purchased a new stake in shares of Solana during the fourth quarter valued at $347,000. Finally, LPL Financial LLC increased its holdings in 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 buying an additional 208,558 shares in the last quarter. 18.63% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.