Michael Picchi Buys 20,000 Shares of Soluna (NASDAQ:SLNH) Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) CFO Michael Picchi acquired 20,000 shares of the business’s stock in a transaction on Friday, August 28th. The stock was acquired at an average price of $1.13 per share, for a total transaction of $22,600.00. Following the acquisition, the chief financial officer 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Michael Picchi also recently made the following trade(s):

• On Monday, August 24th, Michael Picchi bought 10,000 shares of Soluna stock. The shares were acquired at an average price of $1.14 per share, with a total value of $11,400.00.
• On Thursday, August 20th, Michael Picchi purchased 20,000 shares of Soluna stock. The stock was bought at an average cost of $1.15 per share, for a total transaction of $23,000.00.

Soluna Stock Performance

Soluna stock opened at $1.05 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $259.04 million, a P/E ratio of -0.94 and a beta of 5.07. The stock’s 50 day moving average is $1.23 and its 200 day moving average is $1.22. Soluna Holdings, Inc. has a twelve month low of $0.43 and a twelve month high of $5.14.

Soluna (NASDAQ:SLNH) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). Soluna had a negative net margin of 182.16% and a negative return on equity of 52.19%. The company had revenue of $15.06 million for the quarter, compared to the consensus estimate of $15.70 million. On average, equities research analysts predict that Soluna Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Soluna

Several institutional investors have recently modified their holdings of SLNH. Focus Partners Wealth bought a new stake in Soluna in the 3rd quarter worth about $25,000. Scientech Research LLC bought a new position in Soluna during the 3rd quarter valued at about $31,000. Azora Capital LP boosted its holdings in shares of Soluna by 97.7% during the 4th quarter. Azora Capital LP now owns 29,369 shares of the company’s stock valued at $34,000 after acquiring an additional 14,513 shares during the last quarter. Avaii Wealth Management LLC purchased a new stake in shares of Soluna during the 2nd quarter valued at about $25,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Soluna in the fourth quarter worth approximately $30,000. 23.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SLNH shares. Zacks Research raised Soluna to a “hold” rating in a research report on Tuesday, July 21st. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Soluna in a research note on Monday, August 17th. Finally, Weiss Ratings raised shares of Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. One analyst has rated the stock with a Buy rating, one has issued 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 a consensus price target of $4.00.

Soluna Company Profile

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.