Sol Strategies (NASDAQ:STKE) Raised to “Sell” at Wall Street Zen

Sol Strategies (NASDAQ:STKE) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald lifted their target price on Sol Strategies from $2.80 to $6.20 and gave the company an “overweight” rating in a research report on Thursday, September 10th. Weiss Ratings cut shares of Sol Strategies from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sol Strategies has a consensus rating of “Hold” and a consensus target price of $6.20.

Sol Strategies Stock Performance

STKE opened at $1.53 on Friday. The business’s 50-day moving average price is $1.30. Sol Strategies has a 12-month low of $0.85 and a 12-month high of $4.22.

Hedge Funds Weigh In On Sol Strategies

A hedge fund recently raised its position in Sol Strategies stock. Key Client Fiduciary Advisors LLC grew its stake in shares of Sol Strategies (NASDAQ:STKE) by 7.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 356,387 shares of the company’s stock after purchasing an additional 25,800 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in Sol Strategies were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

About Sol Strategies

Sol Strategies Inc is a Canadian digital-asset investment and infrastructure company focused on the Solana blockchain ecosystem. The company seeks to support the growth of Solana through investments, validator operations, staking activities and other blockchain-related initiatives.

Its business includes operating and managing Solana validators, delegating and staking SOL tokens, and developing infrastructure designed to participate in the network’s transaction-validation process. Sol Strategies may also pursue investments in projects, technologies and businesses that contribute to the broader Solana ecosystem.

The company was formerly known as Cypherpunk Holdings Inc before adopting the Sol Strategies name as it repositioned its business around Solana.