Solana Company (NASDAQ:HSDT) Short Interest Up 31.8% in March

Solana Company (NASDAQ:HSDT) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 1,332,026 shares, a growth of 31.8% from the February 26th total of 1,010,452 shares. Based on an average daily volume of 329,865 shares, the days-to-cover ratio is presently 4.0 days. Currently, 3.9% of the shares of the company are short sold.

Solana Price Performance

Shares of NASDAQ:HSDT traded down $0.09 during midday trading on Friday, hitting $1.92. The company had a trading volume of 98,097 shares, compared to its average volume of 294,561. Solana has a 12-month low of $1.74 and a 12-month high of $366.68. The company has a fifty day moving average of $2.29 and a two-hundred day moving average of $5.73. The company has a market cap of $79.30 million, a price-to-earnings ratio of 0.00 and a beta of 1.07.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Solana in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Solana has a consensus rating of “Sell”.

Institutional Trading of Solana

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arrington Capital Management LLC bought a new position in shares of Solana in the fourth quarter worth about $1,904,000. Rockefeller Capital Management L.P. increased its holdings in Solana by 11,764.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 444,904 shares of the company’s stock worth $1,286,000 after acquiring an additional 441,154 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Solana in the 4th quarter worth approximately $1,006,000. Franchise GP Ltd bought a new stake in Solana during the 4th quarter worth approximately $653,000. Finally, Quattro Financial Advisors LLC bought a new stake in Solana during the 4th quarter worth approximately $604,000. Hedge funds and other institutional investors own 18.63% of the company’s stock.

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.