Soluna Holdings, Inc. (NASDAQ:SLNH) Sees Large Decrease in Short Interest

Soluna Holdings, Inc. (NASDAQ:SLNH) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 884,100 shares, a decline of 13.3% from the February 28th total of 1,020,000 shares. Approximately 11.6% of the shares of the stock are short sold. Based on an average trading volume of 536,600 shares, the short-interest ratio is presently 1.6 days.

Institutional Investors Weigh In On Soluna

Several hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Soluna in the fourth quarter worth $82,000. Arcadia Wealth Management Inc. purchased a new stake in shares of Soluna in the 4th quarter worth about $42,000. State Street Corp purchased a new position in Soluna during the 3rd quarter valued at about $36,000. Virtu Financial LLC bought a new stake in Soluna during the third quarter worth about $36,000. Finally, Dimensional Fund Advisors LP boosted its stake in Soluna by 67.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 23,041 shares of the company’s stock worth $48,000 after acquiring an additional 9,264 shares in the last quarter. 23.19% of the stock is currently owned by institutional investors.

Soluna Trading Down 11.4 %

NASDAQ SLNH opened at $0.49 on Friday. The company has a market capitalization of $4.12 million, a price-to-earnings ratio of -0.03 and a beta of 3.03. Soluna has a twelve month low of $0.44 and a twelve month high of $8.80. The stock’s 50-day simple moving average is $1.30 and its two-hundred day simple moving average is $2.46. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.16.

Soluna (NASDAQ:SLNH) last issued 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 during the quarter.

Soluna Company Profile

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.