Soluna Holdings, Inc. (NASDAQ:SLNH) Sees Large Growth in Short Interest

Soluna Holdings, Inc. (NASDAQ:SLNH) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 4,493,008 shares, a growth of 48.4% from the November 30th total of 3,028,286 shares. Approximately 7.3% of the shares of the company are short sold. Based on an average daily volume of 5,984,784 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 5,984,784 shares, the days-to-cover ratio is presently 0.8 days. Approximately 7.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

SLNH has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Soluna in a research report on Monday. Wall Street Zen upgraded Soluna from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, HC Wainwright raised shares of Soluna from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.00.

Soluna Price Performance

NASDAQ:SLNH traded down $0.05 on Wednesday, reaching $1.17. The stock had a trading volume of 3,565,235 shares, compared to its average volume of 5,159,353. The company has a market capitalization of $79.71 million, a P/E ratio of -0.13 and a beta of 4.83. The stock has a fifty day moving average price of $2.07 and a 200-day moving average price of $1.47. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.18. Soluna has a 1-year low of $0.36 and a 1-year high of $5.14.

Soluna (NASDAQ:SLNH) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.09). The business had revenue of $8.42 million for the quarter, compared to analyst estimates of $9.00 million. Soluna had a negative net margin of 274.18% and a negative return on equity of 170.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLNH. SBI Securities Co. Ltd. increased its holdings in shares of Soluna by 118.8% in the second quarter. SBI Securities Co. Ltd. now owns 64,766 shares of the company’s stock valued at $37,000 after purchasing an additional 35,167 shares during the last quarter. Focus Partners Wealth bought a new position in Soluna in the third quarter valued at approximately $25,000. Millennium Management LLC bought a new position in shares of Soluna in the 3rd quarter valued at $471,000. Scientech Research LLC bought a new stake in shares of Soluna during the 3rd quarter worth $31,000. Finally, Azora Capital LP acquired a new stake in Soluna in the third quarter valued at about $35,000. 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.