Solana (NASDAQ:HSDT) Now Covered by B. Riley Financial

Key Points

• B. Riley initiated coverage of Helius Medical Technologies (NASDAQ: HSDT) with a Buy rating and a $3.00 price target, implying roughly a 43.5% upside from the prior close.
• Analyst sentiment is mixed—Maxim also started coverage with a Buy and $4.00 target while Weiss Ratings remains on a Sell—leaving the consensus at a Hold with an average target of $3.50.
• Shares opened at $2.09 (12‑month range $1.59–$265.50) and a market cap of about $114.7M; the company posted a $4.25 EPS surprise last quarter but still shows a deeply negative net margin (~679.5%) and negative ROE, with institutional ownership around 18.6%.

Analysts at B. Riley Financial assumed coverage on shares of Solana (NASDAQ:HSDT - Get Free Report) in a research note issued to investors on Thursday. The brokerage set a "buy" rating and a $3.00 price target on the stock. B. Riley Financial's target price would indicate a potential upside of 43.54% from the company's previous close.

Several other research analysts have also commented on HSDT. Maxim Group started coverage on shares of Solana in a report on Monday, April 6th. They issued a "buy" rating and a $4.00 price target for the company. Weiss Ratings restated a "sell (e+)" rating on shares of Solana in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $3.50.

Solana Price Performance

HSDT opened at $2.09 on Thursday. Solana has a 12-month low of $1.59 and a 12-month high of $265.50. The stock has a market capitalization of $114.72 million, a PE ratio of 0.00 and a beta of 0.90. The firm's fifty day moving average price is $2.03 and its 200 day moving average price is $3.98.

Solana (NASDAQ:HSDT - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $4.25 earnings per share 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 analyst estimates of $0.14 million. Solana had a negative net margin of 679.54% and a negative return on equity of 104.96%.

Institutional Trading of Solana

Several hedge funds have recently bought and sold shares of HSDT. Arrington Capital Management LLC acquired a new position in Solana during the 4th quarter valued at about $1,904,000. Rockefeller Capital Management L.P. boosted its position in shares of 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 buying an additional 441,154 shares during the period. Geode Capital Management LLC bought a new position in Solana in the 4th quarter worth approximately $1,006,000. Franchise GP Ltd bought a new position in Solana in the 4th quarter worth approximately $653,000. Finally, Quattro Financial Advisors LLC acquired a new stake in Solana in the 4th quarter valued at approximately $604,000. 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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