Solana (NASDAQ:HSDT) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Solana (NASDAQ:HSDT) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other research firms also recently commented on HSDT. Zacks Research raised shares of Solana to a “hold” rating in a research report on Monday, April 27th. B. Riley Financial initiated coverage on Solana in a report on Thursday, April 23rd. They set a “buy” rating and a $3.00 price target on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Solana in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Solana presently has a consensus rating of “Hold” and a consensus price target of $3.25.

Solana Stock Down 2.4%

Shares of NASDAQ HSDT opened at $1.66 on Friday. The firm’s 50-day moving average price is $1.68 and its 200-day moving average price is $1.93. The company has a market cap of $96.93 million, a PE ratio of -0.05 and a beta of 1.01. Solana has a 52-week low of $1.19 and a 52-week high of $25.50.

Solana (NASDAQ:HSDT) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.36). Solana had a negative return on equity of 46.41% and a negative net margin of 1,302.78%.The company had revenue of $2.53 million during the quarter, compared to the consensus estimate of $3.50 million. As a group, equities research analysts anticipate that Solana will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Kathmere Capital Management LLC purchased a new position in shares of Solana during the 1st quarter valued at $7,949,000. Yorkville Advisors Global LP purchased a new stake in Solana in the 1st quarter worth $1,877,000. Arrington Capital Management LLC bought a new stake in Solana during the fourth quarter valued at about $1,904,000. Rockefeller Capital Management L.P. raised its holdings in Solana by 11,764.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 444,904 shares of the company’s stock valued at $1,286,000 after acquiring an additional 441,154 shares during the period. Finally, LPL Financial LLC lifted its position in shares of Solana by 120.1% in the fourth quarter. LPL Financial LLC now owns 382,255 shares of the company’s stock valued at $1,105,000 after acquiring an additional 208,558 shares in the last quarter. 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.