Solana (NASDAQ:HSDT) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Solana (NASDAQ:HSDT) to a "Hold"; analyst coverage is mixed but the MarketBeat consensus is a "Moderate Buy" with a $3.50 target.
• The company reported a surprise $4.25 EPS and $5.23M in revenue for the quarter, beating estimates, but still shows severe losses (negative net margin of 679.54% and negative ROE) and sell‑side analysts expect about -0.5 EPS for the year.
• Shares trade near $2.08 with a market cap of about $114.17 million (50‑day SMA $2.03, 200‑day SMA $3.46), and roughly 18.6% institutional ownership following recent new stakes by several funds.

Solana (NASDAQ:HSDT - Get Free Report) was upgraded by Zacks Research to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the company. B. Riley Financial began coverage on Solana in a research note on Thursday, April 23rd. They issued a "buy" rating and a $3.00 price objective on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Solana in a research report on Tuesday, April 21st. Finally, Maxim Group assumed coverage on Solana in a research report on Monday, April 6th. They set a "buy" rating and a $4.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $3.50.

Solana Price Performance

Shares of Solana stock opened at $2.08 on Monday. The business has a 50-day simple moving average of $2.03 and a 200 day simple moving average of $3.46. The firm has a market capitalization of $114.17 million, a price-to-earnings ratio of 0.00 and a beta of 0.90. Solana has a one year low of $1.59 and a one year high of $265.50.

Solana (NASDAQ:HSDT - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $4.25 EPS for the quarter, topping analysts' consensus estimates of ($26.50) by $30.75. The firm had revenue of $5.23 million during the quarter, compared to analyst estimates of $0.14 million. Solana had a negative return on equity of 104.96% and a negative net margin of 679.54%. On average, sell-side analysts expect that Solana will post -0.5 EPS for the current year.

Institutional Trading of Solana

Several institutional investors and hedge funds have recently bought and sold shares of HSDT. Price T Rowe Associates Inc. MD bought a new stake in shares of Solana during the fourth quarter valued at approximately $46,000. Grant Private Wealth Management Inc bought a new stake in Solana in the 4th quarter worth approximately $46,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Solana during the 4th quarter worth $88,000. Aristides Capital LLC purchased a new position in shares of Solana during the 4th quarter worth $137,000. Finally, XTX Topco Ltd purchased a new position in shares of Solana during the 4th quarter worth $140,000. 18.63% of the stock is currently owned by hedge funds and other institutional investors.

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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