Soluna (NASDAQ:SLNH) Trading Down 3.1% – Time to Sell?

Soluna Holdings, Inc. (NASDAQ:SLNH) shares dropped 3.1% on Friday . The company traded as low as $1.24 and last traded at $1.26. Approximately 10,624,591 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 18,178,696 shares. The stock had previously closed at $1.30.

Analyst Ratings Changes

Several research firms have recently issued reports on SLNH. Wall Street Zen upgraded shares of Soluna from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings raised Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. 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, Soluna has a consensus rating of “Hold” and an average price target of $5.00.

Soluna Trading Down 3.1%

The stock’s 50 day moving average is $1.59 and its 200-day moving average is $1.26. The company has a market cap of $198.76 million, a P/E ratio of -0.77 and a beta of 5.11. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.16.

Soluna (NASDAQ:SLNH) last released 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%.

Insider Transactions at Soluna

In other Soluna news, CFO Michael Picchi bought 100,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were acquired at an average cost of $1.63 per share, for a total transaction of $163,000.00. Following the purchase, the chief financial officer owned 1,381,250 shares in the company, valued at approximately $2,251,437.50. This trade represents a 7.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Soluna

A number of institutional investors have recently bought and sold shares of the stock. Focus Partners Wealth bought a new stake in Soluna during the third quarter valued at about $25,000. Matauro LLC purchased a new position in shares of Soluna during the 4th quarter valued at about $28,000. Squarepoint Ops LLC purchased a new position in shares of Soluna during the 4th quarter valued at about $30,000. Scientech Research LLC bought a new position in shares of Soluna during the 3rd quarter valued at approximately $31,000. Finally, Azora Capital LP increased its holdings in Soluna by 97.7% in the 4th quarter. Azora Capital LP now owns 29,369 shares of the company’s stock worth $34,000 after acquiring an additional 14,513 shares in the last quarter. 23.19% of the stock is owned by institutional investors.

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.