Solana (NASDAQ:HSDT) Stock Rating Upgraded by B. Riley Financial

Solana (NASDAQ:HSDT) was upgraded by analysts at B. Riley Financial to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Maxim Group started coverage on shares of Solana in a research report on Monday, April 6th. They set a “buy” rating and a $4.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solana in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.50.

Solana Price Performance

Solana stock opened at $2.06 on Wednesday. The stock’s 50 day moving average is $2.03 and its 200 day moving average is $3.96. Solana has a one year low of $1.59 and a one year high of $265.50. The firm has a market cap of $113.07 million, a P/E ratio of 0.00 and a beta of 0.90.

Solana (NASDAQ:HSDT) last released its earnings results on Tuesday, March 31st. The company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of ($26.50) by $30.75. The business had revenue of $5.23 million during the quarter, compared to the consensus estimate of $0.14 million. Solana had a negative net margin of 679.54% and a negative return on equity of 104.96%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers bought a new position in Solana during the fourth quarter worth $347,000. Marshall Wace LLP bought a new stake in Solana in the fourth quarter valued at $195,000. XTX Topco Ltd bought a new stake in Solana in the fourth quarter valued at $140,000. Aristides Capital LLC acquired a new position in shares of Solana during the fourth quarter valued at about $137,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Solana during the 4th quarter worth about $88,000. Institutional investors and hedge funds own 18.63% of the company’s stock.

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.