Soluna (NASDAQ:SLNH) Trading 2.9% Higher – Here’s What Happened

Shares of Soluna Holdings, Inc. (NASDAQ:SLNH) shot up 2.9% during mid-day trading on Monday . The company traded as high as $1.07 and last traded at $1.05. 8,026,479 shares changed hands during trading, an increase of 33% from the average session volume of 6,041,768 shares. The stock had previously closed at $1.02.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLNH. Weiss Ratings reissued a “sell (e+)” rating on shares of Soluna in a research note on Monday, December 29th. HC Wainwright upgraded Soluna from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Thursday, December 11th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.00.

Soluna Stock Performance

The company’s 50-day simple moving average is $1.47 and its 200 day simple moving average is $1.61. The stock has a market cap of $71.84 million, a P/E ratio of -0.12 and a beta of 4.56. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.18.

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

Institutional Investors Weigh In On Soluna

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Soluna by 756.0% during the fourth 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. Millennium Management LLC purchased a new position in Soluna in the third quarter valued at about $471,000. Fiduciary Alliance LLC grew its position in shares of Soluna by 131.2% during the 4th quarter. Fiduciary Alliance LLC now owns 87,845 shares of the company’s stock valued at $103,000 after acquiring an additional 49,845 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Soluna by 118.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 64,766 shares of the company’s stock worth $37,000 after purchasing an additional 35,167 shares during the last quarter. Finally, Matauro LLC purchased a new stake in shares of Soluna during the 4th quarter worth approximately $28,000. 23.19% of the stock is currently owned by institutional investors.

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.