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 business’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 value of $37,800.00. Following the sale, the chief accounting officer owned 1,481,417 shares of the company’s stock, valued at approximately $1,866,585.42. This represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Soluna Stock Performance

Shares of NASDAQ SLNH traded up $0.01 during trading hours on Thursday, reaching $1.25. 5,602,857 shares of the stock were exchanged, compared to its average volume of 12,349,217. The firm has a market capitalization of $308.38 million, a price-to-earnings ratio of -1.12 and a beta of 5.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.06 and a current ratio of 2.06. Soluna Holdings, Inc. has a 52 week low of $0.59 and a 52 week high of $5.14. The stock’s fifty day simple moving average is $1.21 and its 200 day simple moving average is $1.25.

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

Analyst Ratings Changes

Several research analysts have recently commented on SLNH shares. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Soluna in a report on Monday, August 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Soluna in a research note on Wednesday, September 9th. Zacks Research raised Soluna to a “hold” rating in a report on Tuesday, July 21st. Rosenblatt Securities began coverage on Soluna in a report on Thursday, September 17th. They set a “buy” rating and a $4.00 target price on the stock. Finally, Wall Street Zen cut 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Institutional Investors Weigh In On Soluna

A number of large investors have recently modified their holdings of the business. Azora Capital LP boosted its stake in shares of Soluna by 97.7% in the 4th quarter. Azora Capital LP now owns 29,369 shares of the company’s stock valued at $34,000 after purchasing an additional 14,513 shares in the last quarter. Avaii Wealth Management LLC acquired a new position in Soluna during the 2nd quarter worth approximately $25,000. OMERS ADMINISTRATION Corp lifted its stake in Soluna by 55.2% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 107,100 shares of the company’s stock valued at $76,000 after purchasing an additional 38,100 shares during the last quarter. RFG Advisory LLC acquired a new stake in Soluna in the second quarter valued at approximately $135,000. Finally, Bank of New York Mellon Corp acquired a new stake in Soluna in the second quarter valued at approximately $353,000. Institutional investors and hedge funds 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.