Soluna (NASDAQ:SLNH) Posts Earnings Results, Misses Expectations By $0.53 EPS

Soluna (NASDAQ:SLNH) released its earnings results on Friday. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.53), FiscalAI reports. The business had revenue of $8.42 million for the quarter. Soluna had a negative net margin of 222.81% and a negative return on equity of 183.79%.

Soluna Stock Down 9.7%

Shares of NASDAQ:SLNH traded down $0.18 on Friday, hitting $1.67. 6,937,566 shares of the company traded hands, compared to its average volume of 5,167,150. The stock has a 50 day simple moving average of $2.45 and a 200-day simple moving average of $1.27. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.34. The company has a market cap of $114.00 million, a PE ratio of -0.19 and a beta of 4.46. Soluna has a 52 week low of $0.36 and a 52 week high of $5.14.

Analyst Ratings Changes

Several research firms have issued reports on SLNH. Weiss Ratings restated a “sell (d-)” rating on shares of Soluna in a research report on Wednesday, October 8th. HC Wainwright began coverage on Soluna in a research note on Wednesday, July 23rd. They issued a “neutral” rating for the company. Finally, Wall Street Zen upgraded Soluna from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

About Soluna

Soluna Holdings, Inc together with its subsidiaries, engages in the mining of cryptocurrency through data centers. It operates through two segments, Cryptocurrency Mining and Data Center Hosting. The company also operates in the blockchain business. In addition, the company develops and builds modular data centers that use for cryptocurrency mining.