Soluna (NASDAQ:SLNH) CFO Michael Picchi Acquires 20,000 Shares

Soluna Holdings, Inc. (NASDAQ:SLNH) CFO Michael Picchi bought 20,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were purchased at an average cost of $1.15 per share, with a total value of $23,000.00. Following the completion of the acquisition, the chief financial officer owned 1,401,250 shares in the company, valued at approximately $1,611,437.50. This represents a 1.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

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

Soluna Stock Down 3.0%

SLNH opened at $1.15 on Tuesday. The company has a fifty day moving average of $1.30 and a two-hundred day moving average of $1.21. The stock has a market capitalization of $280.06 million, a price-to-earnings ratio of -1.02 and a beta of 5.13. Soluna Holdings, Inc. has a fifty-two week low of $0.43 and a fifty-two week high of $5.14. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.06 and a current ratio of 2.06.

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

Institutional Investors Weigh In On Soluna

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in shares of Soluna by 226.4% in the first quarter. Renaissance Technologies LLC now owns 835,277 shares of the company’s stock valued at $590,000 after acquiring an additional 579,335 shares in the last quarter. Ardsley Advisory Partners LP acquired a new position in Soluna in the 4th quarter valued at $2,018,000. Yorkville Advisors Global LP purchased a new position in Soluna in the 1st quarter valued at $237,000. Azora Capital LP boosted its stake in Soluna by 97.7% during the 4th quarter. Azora Capital LP now owns 29,369 shares of the company’s stock worth $34,000 after purchasing an additional 14,513 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Soluna during the 2nd quarter worth $353,000. 23.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Soluna in a report on Monday, August 17th. Zacks Research raised Soluna to a “hold” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. 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.com, the company currently has an average rating of “Hold” and a consensus price target of $4.00.

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.