Solana Company (NASDAQ:HSDT) Sees Significant Decrease in Short Interest

Solana Company (NASDAQ:HSDT) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 1,010,452 shares, a drop of 25.8% from the February 12th total of 1,361,910 shares. Approximately 3.0% of the company’s shares are short sold. Based on an average daily volume of 369,148 shares, the days-to-cover ratio is presently 2.7 days. Based on an average daily volume of 369,148 shares, the days-to-cover ratio is presently 2.7 days. Approximately 3.0% of the company’s shares are short sold.

Institutional Investors Weigh In On Solana

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arrington Capital Management LLC bought a new stake in Solana in the 4th quarter valued at $1,904,000. LPL Financial LLC increased its holdings in Solana by 120.1% during the 4th quarter. LPL Financial LLC now owns 382,255 shares of the company’s stock worth $1,105,000 after purchasing an additional 208,558 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of Solana in the 4th quarter valued at about $1,006,000. Wealthspire Advisors LLC acquired a new stake in shares of Solana in the 2nd quarter valued at about $55,000. Finally, Franchise GP Ltd bought a new stake in shares of Solana in the fourth quarter valued at about $653,000. 18.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on HSDT shares. Weiss Ratings restated a “sell (e+)” rating on shares of Solana in a research report on Thursday, January 22nd. Wall Street Zen upgraded Solana from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Solana Stock Performance

NASDAQ HSDT traded up $0.08 during trading hours on Monday, reaching $2.19. 278,168 shares of the company’s stock were exchanged, compared to its average volume of 429,986. The company has a market capitalization of $90.45 million, a price-to-earnings ratio of 0.00 and a beta of 1.08. The company’s 50-day moving average is $2.53 and its two-hundred day moving average is $6.00. Solana has a one year low of $1.74 and a one year high of $366.68.

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.