Soluna (NASDAQ:SLNH) CFO Michael Picchi Purchases 100,000 Shares

Soluna Holdings, Inc. (NASDAQ:SLNH) CFO Michael Picchi purchased 100,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were bought at an average cost of $1.63 per share, with a total value of $163,000.00. Following the transaction, the chief financial officer directly owned 1,381,250 shares of the company’s stock, valued at approximately $2,251,437.50. This represents a 7.80% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Soluna Stock Down 2.3%

SLNH stock opened at $1.71 on Friday. Soluna Holdings, Inc. has a twelve month low of $0.42 and a twelve month high of $5.14. The company has a current ratio of 1.75, a quick ratio of 1.87 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $269.75 million, a P/E ratio of -1.05 and a beta of 5.15. The firm has a 50 day simple moving average of $1.17 and a 200-day simple moving average of $1.37.

Soluna (NASDAQ:SLNH) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.24) earnings per share for the quarter. Soluna had a negative return on equity of 64.80% and a negative net margin of 190.87%.The company had revenue of $9.39 million for the quarter. On average, equities research analysts predict that Soluna Holdings, Inc. will post -0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Soluna

Several large investors have recently added to or reduced their stakes in the company. Heights Capital Management Inc. bought a new position in Soluna during the fourth quarter worth $2,391,000. Geode Capital Management LLC lifted its stake in Soluna by 756.0% during the fourth quarter. Geode Capital Management LLC now owns 1,889,533 shares of the company’s stock worth $2,211,000 after purchasing an additional 1,668,801 shares during the last quarter. Ardsley Advisory Partners LP bought a new position in Soluna during the fourth quarter worth $2,018,000. Renaissance Technologies LLC lifted its stake in Soluna by 226.4% during the first quarter. Renaissance Technologies LLC now owns 835,277 shares of the company’s stock worth $590,000 after purchasing an additional 579,335 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Soluna by 989.3% during the fourth quarter. Jane Street Group LLC now owns 665,649 shares of the company’s stock worth $779,000 after purchasing an additional 604,540 shares during the last quarter. 23.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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 analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Soluna has a consensus rating of “Hold” and a consensus target price of $5.00.

Soluna Company Profile

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.