Short Interest in Soluna Holdings, Inc. (NASDAQ:SLNH) Declines By 45.7%

Soluna Holdings, Inc. (NASDAQ:SLNH) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 450,300 shares, a decline of 45.7% from the March 31st total of 828,800 shares. Approximately 5.0% of the shares of the company are short sold. Based on an average daily volume of 556,200 shares, the short-interest ratio is presently 0.8 days.

Soluna Stock Down 9.4 %

NASDAQ:SLNH opened at $0.82 on Tuesday. The company has a market cap of $10.25 million, a PE ratio of -0.06 and a beta of 3.60. Soluna has a twelve month low of $0.36 and a twelve month high of $8.80. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $0.84 and its two-hundred day moving average is $2.12.

Soluna (NASDAQ:SLNH) last posted its earnings results on Tuesday, April 1st. The company reported ($6.15) earnings per share (EPS) for the quarter. Soluna had a negative return on equity of 45.29% and a negative net margin of 75.30%. The firm had revenue of $8.27 million for the quarter.

Institutional Trading of Soluna

A number of hedge funds have recently bought and sold shares of SLNH. State Street Corp acquired a new stake in Soluna in the 3rd quarter valued at about $36,000. Virtu Financial LLC purchased a new position in shares of Soluna during the 3rd quarter worth approximately $36,000. SBI Securities Co. Ltd. purchased a new position in shares of Soluna during the 4th quarter worth approximately $82,000. Dimensional Fund Advisors LP boosted its position in Soluna by 67.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 23,041 shares of the company’s stock valued at $48,000 after buying an additional 9,264 shares during the period. Finally, Arcadia Wealth Management Inc. purchased a new position in Soluna in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 23.19% of the company’s stock.

About Soluna

Soluna Holdings, Inc together with its subsidiaries, engages in the mining of cryptocurrency through data centers. It operates through two segments, Cryptocurrency Mining and Data Center Hosting. The company also operates in the blockchain business. In addition, the company develops and builds modular data centers that use for cryptocurrency mining.