Key Points
- Soluna CAO Jessica Thomas sold 30,000 shares at an average price of $1.26, generating $37,800; she retains 1,481,417 shares, a 1.98% reduction in ownership.
- Soluna shares opened at $1.25 and were up 0.8%, while the stock trades near its 50-day and 200-day moving averages and has a high beta of 5.07.
- Analyst sentiment is mixed but averages a “Moderate Buy,” with a consensus price target of $4.00; the company recently missed quarterly earnings and revenue estimates.
Soluna Holdings, Inc. (NASDAQ:SLNH - Get Free Report) CAO Jessica Thomas sold 30,000 shares of Soluna stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $1.26, for a total transaction of $37,800.00. Following the completion of the transaction, the chief accounting officer directly owned 1,481,417 shares in the company, valued at approximately $1,866,585.42. This trade represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Soluna Stock Up 0.8%
SLNH stock opened at $1.25 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.06 and a quick ratio of 2.06. The firm has a market capitalization of $308.38 million, a P/E ratio of -1.12 and a beta of 5.07. Soluna Holdings, Inc. has a 52-week low of $0.59 and a 52-week high of $5.14. The company's 50 day simple moving average is $1.21 and its 200-day simple moving average is $1.26.
Soluna (NASDAQ:SLNH - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $15.06 million for the quarter, compared to analysts' expectations of $15.70 million. As a group, equities research analysts anticipate that Soluna Holdings, Inc. will post -0.41 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on SLNH shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Soluna in a research report on Wednesday, September 9th. Rosenblatt Securities started coverage on Soluna in a research report on Thursday, September 17th. They set a "buy" rating and a $4.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $4.00 target price on shares of Soluna in a research note on Monday, August 17th. Zacks Research upgraded Soluna to a "hold" rating in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Soluna from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Soluna presently has an average rating of "Moderate Buy" and an average price target of $4.00.
Check Out Our Latest Report on SLNH
Hedge Funds Weigh In On Soluna
A number of hedge funds have recently modified their holdings of the stock. RFG Advisory LLC acquired a new position in Soluna in the 2nd quarter worth about $135,000. Azora Capital LP acquired a new stake in shares of Soluna during the 2nd quarter valued at about $32,000. Avaii Wealth Management LLC bought a new stake in shares of Soluna in the 2nd quarter valued at approximately $25,000. Bank of New York Mellon Corp acquired a new position in Soluna in the second quarter worth approximately $353,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in Soluna by 55.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 107,100 shares of the company's stock worth $76,000 after buying an additional 38,100 shares during the last quarter. 23.19% of the stock is owned by institutional investors and hedge funds.
About Soluna
(
Get Free Report)
Soluna Holdings, Inc, doing business as Soluna, develops and operates data centers designed to use excess renewable energy for high-performance computing. The company's facilities support applications including cryptocurrency mining, artificial intelligence and other compute-intensive workloads, helping renewable power producers monetize electricity that might otherwise be curtailed.
Soluna's business includes the development, construction and operation of modular data centers, as well as computing services for customers and its own digital-asset mining activities.
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