Solana (NASDAQ:HSDT) Trading Down 9.8% – Here’s Why

by · The Markets Daily

Solana Company (NASDAQ:HSDT – Get Free Report)’s share price dropped 9.8% on Monday . The stock traded as low as $3.02 and last traded at $3.04. Approximately 569,458 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 710,679 shares. The stock had previously closed at $3.37.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Solana from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Solana in a report on Wednesday, October 8th. 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”.

View Our Latest Stock Analysis on HSDT

Solana Stock Down 7.4%

The firm has a 50-day moving average price of $5.97 and a two-hundred day moving average price of $14.02. The company has a market capitalization of $118.53 million, a P/E ratio of 0.00 and a beta of 1.02.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Solana stock. Armistice Capital LLC purchased a new stake in Solana Company (NASDAQ:HSDT – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 72,000 shares of the company’s stock, valued at approximately $29,000. Armistice Capital LLC owned 17.60% of Solana at the end of the most recent reporting period. 18.63% of the stock is currently owned by institutional investors.

Solana Company Profile

(Get Free Report)

Helius Medical Technologies, Inc, a neurotechnology company, focuses on developing, licensing, and acquiring non-implantable technologies for the treatment of symptoms caused by neurological disease or trauma. The company's product is Portable Neuromodulation Stimulator, a non-surgical medical device intended for use as a short term treatment of gait deficit due to symptoms from multiple sclerosis and balance deficit due to mild-to-moderate traumatic brain injury, as well as to be used in conjunction with supervised therapeutic exercise.

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