Solana (NASDAQ:HSDT) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Solana (NASDAQ:HSDT) released its earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05), Zacks reports. Solana had a negative net margin of 1,302.78% and a negative return on equity of 41.86%.

Solana Trading Up 1.9%

Shares of NASDAQ:HSDT traded up $0.04 during midday trading on Wednesday, reaching $1.86. 766,366 shares of the company were exchanged, compared to its average volume of 401,263. The stock has a market cap of $112.98 million, a PE ratio of -0.06 and a beta of 1.10. The business’s fifty day moving average is $2.37 and its two-hundred day moving average is $2.07. Solana has a one year low of $1.19 and a one year high of $5.46.

Wall Street Analysts Forecast Growth

HSDT has been the topic of a number of recent analyst reports. B. Riley Financial raised their price target on Solana from $3.50 to $4.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Solana in a research note on Thursday, October 15th. Finally, Wall Street Zen cut Solana from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.00.

About Solana

Solana is a digital asset company focused on building a treasury centered on Solana’s native cryptocurrency, SOL. Its activities include acquiring and holding SOL and developing strategies intended to provide investors with exposure to the Solana blockchain ecosystem through a publicly traded company. The company is associated with the Solana network, a blockchain platform designed to support decentralized applications, digital assets and smart contracts. Its business may also include participating in the broader Solana ecosystem and pursuing opportunities related to blockchain infrastructure and digital asset growth.