Soluna Holdings, Inc. (NASDAQ:SLNH - Get Free Report) CFO Michael Picchi purchased 20,000 shares of the business's stock in a transaction on Friday, August 28th. The shares were acquired at an average price of $1.13 per share, for a total transaction of $22,600.00. Following the completion of the purchase, the chief financial officer directly owned 1,431,250 shares of the company's stock, valued at approximately $1,617,312.50. This trade represents a 1.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Michael Picchi also recently made the following trade(s):
- On Monday, August 24th, Michael Picchi acquired 10,000 shares of Soluna stock. The stock was acquired at an average cost of $1.14 per share, with a total value of $11,400.00.
- On Thursday, August 20th, Michael Picchi acquired 20,000 shares of Soluna stock. The stock was acquired at an average cost of $1.15 per share, with a total value of $23,000.00.
Soluna Trading Down 2.7%
Shares of SLNH stock opened at $1.08 on Tuesday. 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 50 day moving average price of $1.24 and a 200 day moving average price of $1.22. The stock has a market capitalization of $266.44 million, a P/E ratio of -0.96 and a beta of 5.13. 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 - Get Free Report) last released 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. Equities research analysts predict that Soluna Holdings, Inc. will post -0.41 EPS for the current fiscal year.
Analyst Ratings Changes
SLNH has been the topic of several analyst reports. Zacks Research upgraded Soluna to a "hold" rating in a research note on Tuesday, July 21st. HC Wainwright restated a "buy" rating and set a $4.00 price target on shares of Soluna in a report on Monday, August 17th. Finally, Weiss Ratings raised Soluna from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, June 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $4.00.
View Our Latest Analysis on SLNH
Institutional Investors Weigh In On Soluna
Hedge funds and other institutional investors have recently modified their holdings of the company. Focus Partners Wealth purchased a new stake in shares of Soluna during the 3rd quarter worth $25,000. Scientech Research LLC acquired a new stake in Soluna in the third quarter valued at $31,000. Avaii Wealth Management LLC acquired a new stake in Soluna in the second quarter valued at $25,000. Azora Capital LP purchased a new stake in Soluna during the 2nd quarter worth about $32,000. Finally, Squarepoint Ops LLC purchased a new stake in Soluna during the 4th quarter worth about $30,000. 23.19% of the stock is currently owned by institutional investors and hedge funds.
Soluna Company Profile
(
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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