Soluna (NASDAQ:SLNH) Posts Quarterly Earnings Results

Soluna (NASDAQ:SLNH) issued its quarterly earnings data on Friday. The company reported ($0.24) earnings per share (EPS) for the quarter, Zacks reports. Soluna had a negative net margin of 179.73% and a negative return on equity of 71.50%.

Soluna Stock Up 2.8%

NASDAQ SLNH traded up $0.06 during mid-day trading on Friday, hitting $2.22. The company’s stock had a trading volume of 37,904,169 shares, compared to its average volume of 31,647,210. The firm has a market capitalization of $313.80 million, a price-to-earnings ratio of -0.25 and a beta of 5.15. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.18. Soluna has a twelve month low of $0.41 and a twelve month high of $5.14. The company’s 50 day simple moving average is $1.07 and its 200 day simple moving average is $1.42.

Hedge Funds Weigh In On Soluna

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Focus Partners Wealth purchased a new position in Soluna in the third quarter valued at approximately $25,000. Squarepoint Ops LLC purchased a new stake in shares of Soluna in the fourth quarter worth about $30,000. Scientech Research LLC purchased a new stake in shares of Soluna in the third quarter worth about $31,000. Vident Advisory LLC purchased a new stake in shares of Soluna in the fourth quarter worth $67,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Soluna in the fourth quarter worth $81,000. Hedge funds and other institutional investors own 23.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Soluna from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.00.

About Soluna

Soluna Computing, Inc (NASDAQ: SLNH) is a renewable energy and computing company that develops, constructs and operates utility‐scale wind and solar projects designed to power high-performance computing workloads. By integrating power generation with data processing infrastructure, Soluna targets applications such as cryptocurrency mining, blockchain validation, artificial intelligence training and other cloud‐based or on-premises computing tasks that can flex to available renewable output.

The company manages the full project lifecycle—site selection, permitting, engineering, procurement, construction and operations—with a focus on regions that offer abundant wind or solar resources yet face limitations in grid infrastructure.