Arrington Capital Management LLC Takes Position in Solana Company $HSDT

Arrington Capital Management LLC bought a new stake in shares of Solana Company (NASDAQ:HSDT) in the 4th quarter, HoldingsChannel reports. The fund bought 658,908 shares of the company’s stock, valued at approximately $1,904,000. Solana accounts for about 1.8% of Arrington Capital Management LLC’s portfolio, making the stock its 12th biggest holding.

Several other large investors have also recently made changes to their positions in the business. Cetera Investment Advisers purchased a new stake in shares of Solana during the 4th quarter valued at $347,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Solana during the 4th quarter valued at $46,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Solana during the 4th quarter valued at $88,000. Clear Street Group Inc. purchased a new stake in shares of Solana during the 4th quarter valued at $218,000. Finally, Marshall Wace LLP purchased a new stake in shares of Solana during the 4th quarter valued at $195,000. 18.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HSDT. Maxim Group began coverage on Solana in a research report on Monday, April 6th. They set a “buy” rating and a $4.00 target price for the company. Zacks Research raised Solana to a “hold” rating in a research report on Monday, April 27th. B. Riley Financial assumed coverage on Solana in a research report on Thursday, April 23rd. They set a “buy” rating and a $3.00 target price for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Solana in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.50.

Solana Stock Performance

Shares of HSDT opened at $1.60 on Thursday. The business has a 50-day moving average of $1.96 and a 200 day moving average of $2.41. Solana Company has a fifty-two week low of $1.19 and a fifty-two week high of $25.50. The firm has a market cap of $93.42 million, a P/E ratio of -0.01 and a beta of 1.06.

Solana (NASDAQ:HSDT) last announced its quarterly earnings data on Friday, May 15th. The company reported ($1.30) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.96). Solana had a negative return on equity of 67.57% and a negative net margin of 1,427.15%.The firm had revenue of $3.62 million during the quarter, compared to analysts’ expectations of $3.40 million. As a group, research analysts predict that Solana Company will post -0.09 earnings per share for the current fiscal year.

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.