Short Interest in Solana Company (NASDAQ:HSDT) Drops By 27.5%

Solana Company (NASDAQ:HSDT) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 697,852 shares, a decrease of 27.5% from the December 31st total of 963,146 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average trading volume of 444,294 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 444,294 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.0% of the company’s shares are sold short.

Solana Price Performance

Shares of Solana stock opened at $2.75 on Friday. The stock has a market cap of $113.58 million, a price-to-earnings ratio of 0.00 and a beta of 1.03. The firm’s 50-day moving average is $3.30 and its two-hundred day moving average is $7.03. Solana has a 1 year low of $2.62 and a 1 year high of $592.50.

Solana (NASDAQ:HSDT) last issued its quarterly earnings data on Tuesday, November 18th. The company reported ($32.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($50.50) by $17.61. The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.11 million. Solana had a negative net margin of 39,358.88% and a negative return on equity of 699.93%.

Institutional Investors Weigh In On Solana

A number of hedge funds have recently made changes to their positions in HSDT. Wealthspire Advisors LLC purchased a new position in Solana in the second quarter valued at about $55,000. Franchise GP Ltd purchased a new stake in shares of Solana during the fourth quarter valued at about $653,000. Quattro Financial Advisors LLC bought a new stake in shares of Solana in the 4th quarter valued at about $604,000. Finally, Grant Private Wealth Management Inc purchased a new position in shares of Solana in the 4th quarter worth approximately $46,000. 18.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HSDT. Weiss Ratings reissued a “sell (e+)” rating on shares of Solana in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Solana from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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.