Soluna (NASDAQ:SLNH) CFO Michael Picchi Buys 10,000 Shares

Soluna Holdings, Inc. (NASDAQ:SLNH) CFO Michael Picchi purchased 10,000 shares of the stock in a transaction dated Monday, August 24th. The shares were purchased at an average price of $1.14 per share, with a total value of $11,400.00. Following the completion of the transaction, the chief financial officer owned 1,411,250 shares of the company’s stock, valued at approximately $1,608,825. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Michael Picchi also recently made the following trade(s):

• On Thursday, August 20th, Michael Picchi bought 20,000 shares of Soluna stock. The shares were acquired at an average cost of $1.15 per share, for a total transaction of $23,000.00.

Soluna Stock Down 3.0%

Soluna stock opened at $1.15 on Tuesday. The firm has a market capitalization of $280.06 million, a P/E ratio of -1.02 and a beta of 5.13. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02. Soluna Holdings, Inc. has a twelve month low of $0.43 and a twelve month high of $5.14. The stock’s fifty day simple moving average is $1.30 and its 200-day simple moving average is $1.21.

Soluna (NASDAQ:SLNH) last issued its earnings results on Thursday, August 13th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The firm had revenue of $15.06 million during the quarter, compared to analyst estimates of $15.70 million. Soluna had a negative net margin of 182.16% and a negative return on equity of 52.19%. As a group, equities analysts expect that Soluna Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Soluna

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Partners Wealth acquired a new stake in shares of Soluna in the 3rd quarter worth approximately $25,000. Scientech Research LLC purchased a new position in shares of Soluna in the third quarter valued at $31,000. Avaii Wealth Management LLC purchased a new stake in shares of Soluna in the 2nd quarter worth about $25,000. Azora Capital LP purchased a new stake in shares of Soluna in the second quarter valued at about $32,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Soluna during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 23.19% of the company’s stock.

Analyst Ratings Changes

SLNH has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Soluna in a research report on Monday, August 17th. Weiss Ratings upgraded shares of Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Finally, Zacks Research raised shares of Soluna to a “hold” rating in a research report on Tuesday, July 21st. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

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.