Soluna (NASDAQ:SLNH) Director William Phelan Sells 12,037 Shares of Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) Director William Phelan sold 12,037 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $1.12, for a total transaction of $13,481.44. Following the completion of the transaction, the director owned 2,279,985 shares in the company, valued at $2,553,583.20. This trade represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Soluna Stock Performance

SLNH opened at $1.20 on Friday. 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 $0.43 and a 52-week high of $5.14. The firm has a market cap of $296.04 million, a P/E ratio of -1.07 and a beta of 5.07. The business’s fifty day moving average is $1.22 and its 200-day moving average is $1.22.

Soluna (NASDAQ:SLNH) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $15.06 million for the quarter, compared to analyst estimates of $15.70 million. Sell-side analysts expect that Soluna Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings upgraded Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. HC Wainwright reiterated a “buy” rating and issued a $4.00 price objective on shares of Soluna in a report on Monday, August 17th. Finally, Zacks Research upgraded shares of Soluna to a “hold” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Azora Capital LP bought a new position in Soluna during the second quarter worth $32,000. Avaii Wealth Management LLC acquired a new stake in Soluna during the 2nd quarter worth about $25,000. Bank of New York Mellon Corp acquired a new stake in Soluna during the 2nd quarter worth about $353,000. OMERS ADMINISTRATION Corp raised its position in shares of Soluna by 55.2% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 107,100 shares of the company’s stock worth $76,000 after acquiring an additional 38,100 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Soluna by 226.4% in the 1st quarter. Renaissance Technologies LLC now owns 835,277 shares of the company’s stock worth $590,000 after acquiring an additional 579,335 shares in the last quarter. Institutional investors and hedge funds own 23.19% of the company’s stock.

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.