Insider Buying: Soluna (NASDAQ:SLNH) CFO Purchases $22,600.00 in Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) CFO Michael Picchi purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were purchased at an average cost of $1.13 per share, with a total value of $22,600.00. Following the completion of the acquisition, the chief financial officer directly owned 1,431,250 shares in the company, valued at $1,617,312.50. The trade was a 1.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, August 24th, Michael Picchi purchased 10,000 shares of Soluna stock. The stock was purchased at an average price of $1.14 per share, for a total transaction of $11,400.00.
• On Thursday, August 20th, Michael Picchi acquired 20,000 shares of Soluna stock. The shares were purchased at an average cost of $1.15 per share, for a total transaction of $23,000.00.

Soluna Stock Performance

NASDAQ SLNH opened at $1.08 on Thursday. Soluna Holdings, Inc. has a 1-year low of $0.43 and a 1-year high of $5.14. The company has a 50 day moving average of $1.23 and a 200-day moving average of $1.22. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02. The firm has a market cap of $266.44 million, a price-to-earnings ratio of -0.96 and a beta of 5.07.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on SLNH. HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Soluna in a research note on Monday, August 17th. Zacks Research raised Soluna to a “hold” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Soluna presently has an average rating of “Hold” and a consensus target price of $4.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SLNH. Heights Capital Management Inc. acquired a new position in Soluna during the 4th quarter worth $2,391,000. Geode Capital Management LLC increased its stake in shares of Soluna by 756.0% in the 4th quarter. Geode Capital Management LLC now owns 1,889,533 shares of the company’s stock valued at $2,211,000 after buying an additional 1,668,801 shares during the period. Ardsley Advisory Partners LP acquired a new stake in shares of Soluna in the 4th quarter valued at $2,018,000. Renaissance Technologies LLC raised its position in shares of Soluna by 226.4% during the first quarter. Renaissance Technologies LLC now owns 835,277 shares of the company’s stock worth $590,000 after acquiring an additional 579,335 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Soluna by 989.3% during the fourth quarter. Jane Street Group LLC now owns 665,649 shares of the company’s stock valued at $779,000 after acquiring an additional 604,540 shares during the period. Institutional investors 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.