Soluna (NASDAQ:SLNH) CAO Jessica Thomas Sells 30,000 Shares of Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) CAO Jessica Thomas sold 30,000 shares of Soluna stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $1.26, for a total transaction of $37,800.00. Following the sale, the chief accounting officer owned 1,481,417 shares in the company, valued at approximately $1,866,585.42. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Soluna Stock Performance

Shares of SLNH opened at $1.25 on Friday. The firm has a 50-day moving average price of $1.21 and a 200 day moving average price of $1.26. The firm has a market capitalization of $308.38 million, a PE ratio of -1.12 and a beta of 5.07. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.02. Soluna Holdings, Inc. has a 52-week low of $0.59 and a 52-week high of $5.14.

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

Institutional Trading of Soluna

Large investors have recently added to or reduced their stakes in the business. Ardsley Advisory Partners LP acquired a new stake in shares of Soluna during 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 purchasing an additional 579,335 shares during the period. Yorkville Advisors Global LP purchased a new stake in shares of Soluna during the first quarter valued at $237,000. Bank of New York Mellon Corp purchased a new stake in shares of Soluna during the second quarter valued at $353,000. Finally, OMERS ADMINISTRATION Corp boosted 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 valued at $76,000 after purchasing an additional 38,100 shares during the period. 23.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SLNH shares. Wall Street Zen downgraded Soluna from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Soluna in a research note on Wednesday, September 9th. HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Soluna in a report on Monday, August 17th. Rosenblatt Securities assumed coverage on Soluna in a research note on Thursday, September 17th. They set a “buy” rating and a $4.00 target price for the company. Finally, Zacks Research raised Soluna to a “hold” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

Soluna Company Profile

Soluna Holdings, Inc, doing business as Soluna, develops and operates data centers designed to use excess renewable energy for high-performance computing. The company’s facilities support applications including cryptocurrency mining, artificial intelligence and other compute-intensive workloads, helping renewable power producers monetize electricity that might otherwise be curtailed.

Soluna’s business includes the development, construction and operation of modular data centers, as well as computing services for customers and its own digital-asset mining activities.