Soluna (NASDAQ:SLNH) Given Buy Rating at HC Wainwright

Soluna (NASDAQ:SLNH)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $4.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 205.34% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Weiss Ratings raised shares of Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Zacks Research upgraded shares of Soluna to a “hold” rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of Soluna from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.00.

Soluna Price Performance

Shares of Soluna stock opened at $1.31 on Monday. The stock’s 50-day simple moving average is $1.33 and its 200-day simple moving average is $1.21. Soluna has a 52 week low of $0.41 and a 52 week high of $5.14. The company has a market capitalization of $206.65 million, a price-to-earnings ratio of -0.80 and a beta of 5.13. 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 posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). Soluna had a negative return on equity of 52.19% and a negative net margin of 182.16%.The business had revenue of $15.06 million during the quarter, compared to analysts’ expectations of $15.70 million. As a group, analysts expect that Soluna will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Soluna

In other news, CFO Michael Picchi acquired 100,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average cost of $1.63 per share, with a total value of $163,000.00. Following the acquisition, the chief financial officer directly owned 1,381,250 shares of the company’s stock, valued at approximately $2,251,437.50. The trade was a 7.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Focus Partners Wealth purchased a new position in shares of Soluna in the third quarter valued at $25,000. Scientech Research LLC purchased a new stake in Soluna during the third quarter valued at $31,000. Avaii Wealth Management LLC bought a new position in Soluna during the second quarter valued at $25,000. Azora Capital LP bought a new position in Soluna during the second quarter valued at $32,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Soluna in the 4th quarter worth $30,000. 23.19% of the stock is currently owned by institutional investors.

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.