B. Riley Financial Cuts Solana (NASDAQ:HSDT) Price Target to $2.50

Solana (NASDAQ:HSDT) had its target price trimmed by B. Riley Financial from $3.00 to $2.50 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Solana in a research report on Friday, July 17th. Zacks Research raised shares of Solana to a “hold” rating in a report on Monday, April 27th. Finally, Wall Street Zen lowered shares of Solana from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.25.

Solana Price Performance

Shares of HSDT stock opened at $1.86 on Monday. The firm has a market cap of $112.46 million, a P/E ratio of -0.06 and a beta of 1.01. Solana has a 1-year low of $1.19 and a 1-year high of $25.50. The firm has a fifty day moving average of $1.70 and a two-hundred day moving average of $1.92.

Solana (NASDAQ:HSDT) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.36). The firm had revenue of $2.53 million for the quarter, compared to analyst estimates of $3.50 million. Solana had a negative net margin of 1,302.78% and a negative return on equity of 41.86%. On average, sell-side analysts expect that Solana will post -1.61 EPS for the current year.

Hedge Funds Weigh In On Solana

Several institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD acquired a new stake in shares of Solana during the 4th quarter worth approximately $46,000. OMERS ADMINISTRATION Corp acquired a new position in Solana during the 4th quarter valued at approximately $88,000. Aristides Capital LLC bought a new position in Solana during the 4th quarter worth $137,000. XTX Topco Ltd bought a new position in Solana during the 4th quarter worth $140,000. Finally, Saba Capital Management L.P. acquired a new stake in Solana in the first quarter worth $113,000. 18.63% of the stock is owned by institutional investors.

Solana Company Profile

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.