SBI Securities Co. Ltd. Buys 35,167 Shares of Soluna Holdings, Inc. $SLNH

SBI Securities Co. Ltd. grew its stake in shares of Soluna Holdings, Inc. (NASDAQ:SLNH) by 118.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,766 shares of the company’s stock after purchasing an additional 35,167 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Soluna were worth $37,000 at the end of the most recent quarter.

Soluna Trading Up 8.4%

Shares of Soluna stock opened at $1.94 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.35 and a quick ratio of 0.35. The business has a fifty day simple moving average of $2.50 and a two-hundred day simple moving average of $1.29. Soluna Holdings, Inc. has a 1 year low of $0.36 and a 1 year high of $5.14. The company has a market capitalization of $132.44 million, a price-to-earnings ratio of -0.22 and a beta of 4.46.

Soluna (NASDAQ:SLNH) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.09). The company had revenue of $8.42 million during the quarter, compared to analyst estimates of $9.00 million. Soluna had a negative net margin of 222.81% and a negative return on equity of 183.79%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SLNH shares. Wall Street Zen upgraded shares of Soluna from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. HC Wainwright initiated coverage on shares of Soluna in a research note on Wednesday, July 23rd. They set a “neutral” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Soluna in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Soluna Company Profile

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.