Soluna (NASDAQ:SLNH) Now Covered by Rosenblatt Securities

Key Points

• Rosenblatt Securities initiated coverage of Soluna with a “buy” rating and a $4.00 price target, implying 257.14% potential upside from the stock’s $1.12 opening price.
• Analyst sentiment remains mixed: two analysts rate Soluna a Buy, one rates it Hold, and one rates it Sell. MarketBeat reports a consensus rating of “Hold” with a $4.00 consensus target price.
• Soluna recently missed quarterly earnings and revenue expectations, reporting a $0.18 per-share loss versus an expected $0.11 loss and $15.06 million in revenue versus $15.70 million expected.

Research analysts at Rosenblatt Securities started coverage on shares of Soluna (NASDAQ:SLNH - Get Free Report) in a research note issued on Thursday, Benzinga reports. The firm set a "buy" rating and a $4.00 price target on the stock. Rosenblatt Securities' price target would indicate a potential upside of 257.14% from the company's current price.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Soluna in a report on Wednesday, September 9th. Zacks Research upgraded Soluna to a "hold" rating in a research report on Tuesday, July 21st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $4.00 target price on shares of Soluna in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $4.00.

Soluna Trading Down 0.9%

Shares of Soluna stock opened at $1.12 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.06 and a quick ratio of 2.06. Soluna has a 1 year low of $0.59 and a 1 year high of $5.14. The firm has a market cap of $276.30 million, a PE ratio of -1.00 and a beta of 5.07. The company has a 50 day simple moving average of $1.20 and a two-hundred day simple moving average of $1.24.

Soluna (NASDAQ:SLNH - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $15.70 million. Analysts expect that Soluna will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Soluna

A number of large investors have recently bought and sold shares of the stock. Azora Capital LP grew 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 during the last quarter. Avaii Wealth Management LLC bought a new position in shares of Soluna during the second quarter valued at about $25,000. OMERS ADMINISTRATION Corp boosted its holdings in shares of Soluna by 55.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 107,100 shares of the company's stock worth $76,000 after purchasing an additional 38,100 shares during the period. RFG Advisory LLC purchased a new stake in shares of Soluna during the second quarter worth about $135,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Soluna in the second quarter worth about $353,000. 23.19% of the stock is owned by hedge funds and other institutional investors.

Soluna Company Profile

Soluna Holdings, Inc, doing business as Soluna, develops and operates data centers designed to use excess renewable energy for high-performance computing. The company's facilities support applications including cryptocurrency mining, artificial intelligence and other compute-intensive workloads, helping renewable power producers monetize electricity that might otherwise be curtailed.

Soluna's business includes the development, construction and operation of modular data centers, as well as computing services for customers and its own digital-asset mining activities.

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