Solana (NASDAQ:HSDT) Given New $2.50 Price Target at B. Riley Financial

Key Points

• B. Riley Financial lowered its price target for Helius Medical Technologies from $3.00 to $2.50 while maintaining a “buy” rating, implying roughly 48% upside from the $1.69 share price.
• Analyst sentiment is mixed: two analysts rate the stock “buy,” one “hold,” and one “sell,” resulting in a consensus “hold” rating and an average price target of $3.25.
• Helius reported a significant quarterly miss, posting a loss of $0.38 per share versus the expected $0.02 loss and revenue of $2.53 million versus the $3.50 million consensus estimate.

Solana (NASDAQ:HSDT - Get Free Report) had its price objective dropped by investment analysts at B. Riley Financial from $3.00 to $2.50 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. B. Riley Financial's target price indicates a potential upside of 48.37% from the stock's current price.

A number of other equities analysts have also recently issued reports on HSDT. Wall Street Zen cut Solana from a "hold" rating to a "sell" rating in a report on Saturday. Zacks Research raised Solana to a "hold" rating in a research note on Monday, April 27th. Finally, Weiss Ratings reiterated 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 given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $3.25.

Solana Trading Down 0.9%

Shares of HSDT traded down $0.01 on Monday, reaching $1.69. 71,102 shares of the company's stock were exchanged, compared to its average volume of 344,833. The stock has a market capitalization of $98.39 million, a P/E ratio of -0.06 and a beta of 1.01. The business has a 50 day moving average price of $1.67 and a two-hundred day moving average price of $1.94. Solana has a 12 month low of $1.19 and a 12 month high of $25.50.

Solana (NASDAQ:HSDT - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.38) earnings per share (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 46.41%. The business had revenue of $2.53 million during the quarter, compared to the consensus estimate of $3.50 million. Equities research analysts predict that Solana will post -0.09 EPS for the current year.

Institutional Investors Weigh In On Solana

Several large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD acquired a new position in shares of Solana in the 4th quarter valued at approximately $46,000. OMERS ADMINISTRATION Corp acquired a new stake in Solana during the 4th quarter worth approximately $88,000. Aristides Capital LLC acquired a new stake in Solana during the 4th quarter worth approximately $137,000. XTX Topco Ltd bought a new position in Solana in the fourth quarter valued at approximately $140,000. Finally, Saba Capital Management L.P. bought a new position in Solana in the first quarter valued at approximately $113,000. 18.63% of the stock is currently owned by 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.

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