LCID - What Is Going on With Helius Medical (HSDT) Stock Today?
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Helius Medical (NASDAQ:HSDT) stock is soaring higher on Tuesday after Roth Capital analyst Jonathan Aschoff initiated coverage of the shares.
That new coverage from the Roth analyst comes with a “buy” rating for HSDT stock. That’s positive news considering Helius Medical doesn’t have much coverage from other analysts.
Investors in HSDT stock will also note Aschoff’s price target of $5 per share. That’s incredibly bullish compared to the company’s closing price of 55 cents on Monday. The consensus price target for HSDT is sitting at $12.50.
Why is Roth Bullish on HSDT Stock?
Aschoff points to the company’s Portable Neuromodulation Stimulator as a catalyst. This is a non-surgical device that sends small electrical impulses to the tongue. This helps patients suffering from multiple sclerosis or traumatic brain injury to improve their gait and balance, Seeking Alpha notes.
And there’s more to the rise of HSDT stock than just the new analyst coverage today. Shares are also seeing amazingly high trading volume with some 43 million units on the move. To put that in perspective, the company’s daily average trading volume is about 3.5 million shares.
It’s worth noting that this increase in trading volume could be linked to a short squeeze of HSDT stock. That would make sense as its a penny stock and the upgrade alone doesn’t explain the surge in trading volume today.
HSDT stock is up 16.1% as of Tuesday afternoon.
Investors can learn more about the latest stock market news below!
We’ve got all of that news ready to go in one convenient place! A few examples include everything happening with Twitter (NYSE:TWTR), Indonesia Energy (NYSEMKT:INDO), and Lucid (NASDAQ:LCID) stock today. You can find out more at the following links!
More Tuesday Stock Market News
- Twitter Whistleblower Sinks TWTR Stock
- Indonesia Energy (INDO) Stock Soars as Natural Gas Prices Spike
- Dear LCID Stock Fans, Watch This Key Catalyst Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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