Soluna Holdings, Inc. (NASDAQ:SLNH - Get Free Report) CFO Michael Picchi bought 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average price of $1.14 per share, for a total transaction of $11,400.00. Following the transaction, the chief financial officer owned 1,411,250 shares of the company's stock, valued at $1,608,825. The trade was a 0.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Michael Picchi also recently made the following trade(s):
- On Thursday, August 20th, Michael Picchi acquired 20,000 shares of Soluna stock. The shares were bought at an average cost of $1.15 per share, with a total value of $23,000.00.
Soluna Stock Performance
NASDAQ:SLNH opened at $1.15 on Tuesday. The company has a market cap of $280.06 million, a P/E ratio of -1.02 and a beta of 5.13. The firm's 50 day moving average is $1.30 and its two-hundred day moving average is $1.21. 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 quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.02.
Soluna (NASDAQ:SLNH - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $15.06 million for the quarter, compared to analyst estimates of $15.70 million. Analysts expect that Soluna Holdings, Inc. will post -0.41 EPS for the current year.
Institutional Trading of Soluna
Several institutional investors have recently made changes to their positions in the stock. Avaii Wealth Management LLC purchased a new position in Soluna during the second quarter valued at approximately $25,000. Focus Partners Wealth acquired a new position in Soluna in the 3rd quarter valued at approximately $25,000. Squarepoint Ops LLC purchased a new stake in Soluna in the 4th quarter worth approximately $30,000. Scientech Research LLC purchased a new stake in Soluna in the 3rd quarter worth approximately $31,000. Finally, Azora Capital LP acquired a new stake in shares of Soluna during the 2nd quarter valued at $32,000. 23.19% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $4.00 price target on shares of Soluna in a research note on Monday, August 17th. Weiss Ratings upgraded Soluna from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, June 12th. Finally, Zacks Research upgraded Soluna to a "hold" rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $4.00.
Read Our Latest Stock Analysis on SLNH
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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