Key Points
- Soluna CFO Michael Picchi bought 100,000 shares of SLNH at $1.63 each, spending a total of $163,000. After the purchase, he owned 1,381,250 shares, increasing his stake by 7.8%.
- The company recently reported a loss of $0.24 per share for the quarter on revenue of $9.39 million, and analysts expect Soluna to post -0.46 EPS for the current year.
- Soluna stock closed around $1.71 and has been volatile, with a 52-week range of $0.42 to $5.14; the current consensus analyst rating is Hold with a $5.00 target price.
Soluna Holdings, Inc. (NASDAQ:SLNH - Get Free Report) CFO Michael Picchi acquired 100,000 shares of Soluna stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average price of $1.63 per share, for a total transaction of $163,000.00. Following the completion of the purchase, the chief financial officer directly owned 1,381,250 shares of the company's stock, valued at $2,251,437.50. The trade was a 7.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Soluna Stock Performance
Shares of SLNH opened at $1.71 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.75 and a quick ratio of 1.87. The stock has a market capitalization of $269.75 million, a PE ratio of -1.05 and a beta of 5.15. Soluna Holdings, Inc. has a 12-month low of $0.42 and a 12-month high of $5.14. The business's fifty day moving average price is $1.17 and its 200 day moving average price is $1.37.
Soluna (NASDAQ:SLNH - Get Free Report) last posted its earnings results on Friday, May 15th. The company reported ($0.24) earnings per share (EPS) for the quarter. The company had revenue of $9.39 million during the quarter. Soluna had a negative net margin of 190.87% and a negative return on equity of 64.80%. Equities research analysts forecast that Soluna Holdings, Inc. will post -0.46 EPS for the current year.
Institutional Investors Weigh In On Soluna
A number of hedge funds have recently added to or reduced their stakes in the stock. Focus Partners Wealth bought a new stake in Soluna in the third quarter valued at $25,000. Scientech Research LLC bought a new stake in Soluna in the third quarter valued at $31,000. Azora Capital LP lifted its stake in Soluna by 97.7% in the fourth quarter. Azora Capital LP now owns 29,369 shares of the company's stock valued at $34,000 after buying an additional 14,513 shares during the last quarter. Matauro LLC bought a new stake in shares of Soluna during the fourth quarter valued at about $28,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Soluna during the fourth quarter valued at about $30,000. 23.19% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded Soluna from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. 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, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.00.
View Our Latest Stock Analysis on Soluna
About Soluna
(
Get Free Report)
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.
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