Solana Company (NASDAQ:HSDT) Sees Large Growth in Short Interest

Solana Company (NASDAQ:HSDT) was the target of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 1,351,342 shares, a growth of 93.6% from the January 15th total of 697,852 shares. Currently, 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 387,052 shares, the short-interest ratio is presently 3.5 days. Based on an average daily trading volume, of 387,052 shares, the short-interest ratio is presently 3.5 days. Currently, 4.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Solana

A number of large investors have recently modified their holdings of HSDT. Grant Private Wealth Management Inc bought a new position in shares of Solana in the 4th quarter valued at $46,000. Wealthspire Advisors LLC bought a new position in Solana in the second quarter valued at about $55,000. Aristides Capital LLC acquired a new position in Solana during the fourth quarter worth about $137,000. Marshall Wace LLP bought a new position in shares of Solana in the fourth quarter worth about $195,000. Finally, State Street Corp acquired a new stake in shares of Solana in the 4th quarter valued at approximately $464,000. Institutional investors and hedge funds own 18.63% of the company’s stock.

Solana Stock Up 14.5%

Shares of NASDAQ:HSDT opened at $2.21 on Friday. Solana has a 12-month low of $1.81 and a 12-month high of $449.93. The company’s 50 day moving average price is $2.93 and its two-hundred day moving average price is $6.57. The firm has a market cap of $91.28 million, a PE ratio of 0.00 and a beta of 1.06.

Solana (NASDAQ:HSDT) last posted its quarterly earnings data on Tuesday, November 18th. The company reported ($32.89) earnings per share for the quarter, topping the consensus estimate of ($50.50) by $17.61. Solana had a negative net margin of 39,358.88% and a negative return on equity of 699.93%. The business had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.11 million.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HSDT. Wall Street Zen upgraded Solana from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Solana in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.