Wall Street Zen Downgrades Solana (NASDAQ:HSDT) to Sell

Solana (NASDAQ:HSDT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other brokerages also recently commented on HSDT. B. Riley Financial began coverage on shares of Solana in a research report on Thursday, April 23rd. They set a “buy” rating and a $3.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Solana in a research note on Friday, July 17th. Finally, Zacks Research raised shares of Solana to a “hold” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Solana currently has an average rating of “Moderate Buy” and an average target price of $3.50.

Solana Stock Performance

HSDT stock opened at $1.70 on Friday. The firm has a market cap of $99.26 million, a PE ratio of -0.06 and a beta of 1.01. The stock has a 50-day moving average price of $1.67 and a 200-day moving average price of $1.94. Solana has a 1-year low of $1.19 and a 1-year high of $25.50.

Solana (NASDAQ:HSDT) last announced its earnings results on Friday, August 14th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.36). The business had revenue of $2.53 million for the quarter, compared to the consensus estimate of $3.50 million. Solana had a negative net margin of 1,302.78% and a negative return on equity of 46.41%. On average, analysts forecast that Solana will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On Solana

Several hedge funds and other institutional investors have recently modified their holdings of HSDT. Saba Capital Management L.P. acquired a new position in shares of Solana during the first quarter worth approximately $113,000. Yorkville Advisors Global LP acquired a new stake in Solana in the 1st quarter valued at $1,877,000. Kathmere Capital Management LLC acquired a new stake in Solana in the 1st quarter valued at $7,949,000. Rockefeller Capital Management L.P. increased its stake in Solana by 11,764.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 444,904 shares of the company’s stock valued at $1,286,000 after purchasing an additional 441,154 shares in the last quarter. Finally, Aristides Capital LLC bought a new stake in Solana during the 4th quarter valued at $137,000. Institutional investors 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.