Soluna (NASDAQ:SLNH) Trading Up 4.2% – Here’s Why

Soluna Holdings, Inc. (NASDAQ:SLNH) rose 4.2% on Friday . The company traded as high as $1.62 and last traded at $1.48. Approximately 19,145,855 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 20,917,472 shares. The stock had previously closed at $1.42.

Analyst Ratings Changes

SLNH has been the subject of a number of research reports. Wall Street Zen raised Soluna from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings cut Soluna from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Soluna currently has a consensus rating of “Hold” and a consensus target price of $5.00.

Soluna Price Performance

The stock has a market capitalization of $233.47 million, a price-to-earnings ratio of -0.91 and a beta of 5.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.75 and a current ratio of 1.75. The company has a 50 day moving average of $1.43 and a 200 day moving average of $1.29.

Soluna (NASDAQ:SLNH) last released its earnings results on Friday, May 15th. The company reported ($0.24) EPS for the quarter. Soluna had a negative return on equity of 64.80% and a negative net margin of 190.87%.The company had revenue of $9.39 million for the quarter.

Insider Buying and Selling

In related news, CFO Michael Picchi bought 100,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $1.63 per share, with a total value of $163,000.00. Following the purchase, the chief financial officer directly owned 1,381,250 shares of the company’s stock, valued at $2,251,437.50. This trade represents a 7.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 10.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Heights Capital Management Inc. acquired a new position in Soluna during the 4th quarter worth $2,391,000. Geode Capital Management LLC lifted its holdings in Soluna by 756.0% during the 4th quarter. Geode Capital Management LLC now owns 1,889,533 shares of the company’s stock worth $2,211,000 after buying an additional 1,668,801 shares during the last quarter. Ardsley Advisory Partners LP purchased a new stake in Soluna during the 4th quarter worth about $2,018,000. Renaissance Technologies LLC lifted its holdings in Soluna by 226.4% during the 1st quarter. Renaissance Technologies LLC now owns 835,277 shares of the company’s stock worth $590,000 after buying an additional 579,335 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Soluna by 989.3% during the 4th quarter. Jane Street Group LLC now owns 665,649 shares of the company’s stock worth $779,000 after buying an additional 604,540 shares during the last quarter. 23.19% of the stock is owned by institutional investors and hedge funds.

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.