Soluna (NASDAQ:SLNH) CAO Sells 30,000 Shares of Company Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) CAO Jessica Thomas sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $1.26, for a total transaction of $37,800.00. Following the transaction, the chief accounting officer directly owned 1,481,417 shares of the company’s stock, valued at $1,866,585.42. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Soluna Stock Up 0.8%

Shares of SLNH stock traded up $0.01 during trading on Thursday, reaching $1.25. The company’s stock had a trading volume of 5,602,857 shares, compared to its average volume of 12,349,217. Soluna Holdings, Inc. has a one year low of $0.59 and a one year high of $5.14. The business has a fifty day moving average price of $1.21 and a 200-day moving average price of $1.25. The company has a market cap of $308.38 million, a price-to-earnings ratio of -1.12 and a beta of 5.07. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.02.

Soluna (NASDAQ:SLNH) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.07). Soluna had a negative net margin of 182.16% and a negative return on equity of 52.19%. The business had revenue of $15.06 million during the quarter, compared to analyst estimates of $15.70 million. Analysts anticipate that Soluna Holdings, Inc. will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SLNH shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soluna in a report on Wednesday, September 9th. Zacks Research upgraded Soluna to a “hold” rating in a research note on Tuesday, July 21st. Rosenblatt Securities initiated coverage on Soluna in a report on Thursday, September 17th. They issued a “buy” rating and a $4.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $4.00 target price on shares of Soluna in a research note on Monday, August 17th. Finally, Wall Street Zen lowered shares of Soluna from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Soluna currently has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Institutional Trading of Soluna

Several institutional investors and hedge funds have recently bought and sold shares of SLNH. Avaii Wealth Management LLC bought a new position in shares of Soluna during the 2nd quarter worth approximately $25,000. Azora Capital LP bought a new stake in Soluna in the 2nd quarter valued at $32,000. RFG Advisory LLC acquired a new stake in Soluna during the 2nd quarter valued at $135,000. OMERS ADMINISTRATION Corp boosted its position in Soluna by 55.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 107,100 shares of the company’s stock worth $76,000 after purchasing an additional 38,100 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Soluna during the second quarter worth $353,000. Institutional investors own 23.19% of the company’s stock.

About Soluna

Soluna Holdings, Inc, doing business as Soluna, develops and operates data centers designed to use excess renewable energy for high-performance computing. The company’s facilities support applications including cryptocurrency mining, artificial intelligence and other compute-intensive workloads, helping renewable power producers monetize electricity that might otherwise be curtailed.

Soluna’s business includes the development, construction and operation of modular data centers, as well as computing services for customers and its own digital-asset mining activities.