Solana (NASDAQ:HSDT) Stock Gets Price Target Trim from B. Riley Financial

Solana (NASDAQ:HSDT) had its target price cut by B. Riley Financial from $4.00 to $3.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

HSDT has been the subject of a number of other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Solana in a research report on Thursday, October 15th. Wall Street Zen cut shares of Solana from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Solana presently has a consensus rating of “Hold” and a consensus price target of $3.50.

Solana Price Performance

Shares of HSDT stock traded down $0.16 during midday trading on Thursday, reaching $1.73. 490,536 shares of the company traded hands, compared to its average volume of 599,854. The firm’s 50 day simple moving average is $2.35 and its two-hundred day simple moving average is $2.05. The firm has a market cap of $105.08 million, a PE ratio of 0.46 and a beta of 1.10. Solana has a 1-year low of $1.19 and a 1-year high of $4.93.

Solana (NASDAQ:HSDT) last released its quarterly earnings data on Wednesday, November 11th. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $1.18. The firm had revenue of $3.36 million during the quarter, compared to the consensus estimate of $2.85 million. Solana had a return on equity of 134.60% and a net margin of 2,040.43%. As a group, research analysts anticipate that Solana will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solana

A hedge fund recently bought a new position in Solana stock. Yorkville Advisors Global LP acquired a new position in shares of Solana Company (NASDAQ:HSDT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,085,000 shares of the company’s stock, valued at approximately $1,877,000. Solana comprises about 1.1% of Yorkville Advisors Global LP’s investment portfolio, making the stock its 14th biggest position. Yorkville Advisors Global LP owned about 1.98% of Solana as of its most recent SEC filing. 18.63% of the stock is currently owned by institutional investors and hedge funds.

Solana Company Profile

Solana Company (NASDAQ: HSDT) is a publicly traded company focused on a digital-asset treasury strategy centered on SOL, the native token of the Solana blockchain. It is a corporate holder of Solana-related digital assets, rather than the operator of the Solana network. The company was formerly Helius Medical Technologies, a medical technology business that developed the Portable Neuromodulation Stimulator (PoNS), a device designed to support rehabilitation for people with certain neurological conditions.