Michael Picchi Purchases 100,000 Shares of Soluna (NASDAQ:SLNH) Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) CFO Michael Picchi acquired 100,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were purchased at an average price of $1.63 per share, with a total value of $163,000.00. Following the transaction, the chief financial officer owned 1,381,250 shares of the company’s stock, valued at approximately $2,251,437.50. This represents a 7.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Soluna Trading Down 2.3%

Shares of Soluna stock opened at $1.71 on Friday. The firm has a market cap of $269.75 million, a price-to-earnings ratio of -1.05 and a beta of 5.15. The business has a 50-day moving average price of $1.17 and a 200-day moving average price of $1.37. The company has a quick ratio of 1.87, a current ratio of 1.75 and a debt-to-equity ratio of 0.16. Soluna Holdings, Inc. has a twelve month low of $0.42 and a twelve month high of $5.14.

Soluna (NASDAQ:SLNH) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.24) earnings per share for the quarter. The firm had revenue of $9.39 million for the quarter. Soluna had a negative net margin of 190.87% and a negative return on equity of 64.80%. Equities research analysts anticipate that Soluna Holdings, Inc. will post -0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Soluna from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Focus Partners Wealth purchased a new position in Soluna in the third quarter worth about $25,000. Scientech Research LLC purchased a new position in Soluna in the third quarter worth about $31,000. Azora Capital LP purchased a new position in Soluna in the third quarter worth about $35,000. Matauro LLC purchased a new position in Soluna in the fourth quarter worth about $28,000. Finally, Squarepoint Ops LLC purchased a new position in Soluna in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 23.19% of the company’s stock.

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.