Insider Buying: Soluna (NASDAQ:SLNH) CFO Acquires 20,000 Shares

Key Points

• Soluna CFO Michael Picchi bought 20,000 shares at an average price of $1.15, investing $23,000 and increasing his stake by 1.45% to 1,401,250 shares. He also purchased an additional 10,000 shares at $1.14 on August 24.
• Soluna’s shares traded around $1.15, well below the 52-week high of $5.14, while the company reported a quarterly loss of $0.18 per share and revenue of $15.06 million, both weaker than analyst expectations.
• Analyst sentiment is mixed, with ratings spanning Buy, Hold, and Sell; the stock carries an overall “Hold” consensus and a $4.00 average price target. Institutional investors own 23.19% of the company.

Soluna Holdings, Inc. (NASDAQ:SLNH - Get Free Report) CFO Michael Picchi purchased 20,000 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average price of $1.15 per share, for a total transaction of $23,000.00. Following the purchase, the chief financial officer owned 1,401,250 shares in the company, valued at $1,611,437.50. The trade was a 1.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, August 24th, Michael Picchi purchased 10,000 shares of Soluna stock. The stock was bought at an average cost of $1.14 per share, for a total transaction of $11,400.00.

Soluna Stock Performance

SLNH stock traded down $0.04 during mid-day trading on Monday, hitting $1.15. 8,688,061 shares of the company were exchanged, compared to its average volume of 12,935,410. Soluna Holdings, Inc. has a 1-year low of $0.43 and a 1-year high of $5.14. The stock has a market capitalization of $280.06 million, a PE ratio of -1.02 and a beta of 5.13. The business has a 50 day simple moving average of $1.31 and a 200-day simple moving average of $1.21. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Zacks Research upgraded Soluna to a "hold" rating in a research report on Tuesday, July 21st. HC Wainwright reissued a "buy" rating and issued a $4.00 target price on shares of Soluna in a research report on Monday, August 17th. Finally, Weiss Ratings upgraded shares of Soluna from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, June 12th. One equities research analyst has 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.com, the stock presently has an average rating of "Hold" and a consensus price target of $4.00.

Institutional Investors Weigh In On Soluna

A number of large investors have recently added to or reduced their stakes in SLNH. Renaissance Technologies LLC raised its holdings in Soluna by 226.4% in the 1st quarter. Renaissance Technologies LLC now owns 835,277 shares of the company's stock valued at $590,000 after acquiring an additional 579,335 shares in the last quarter. Ardsley Advisory Partners LP acquired a new stake in shares of Soluna during the 4th quarter worth $2,018,000. Yorkville Advisors Global LP acquired a new stake in shares of Soluna during the 1st quarter worth $237,000. Azora Capital LP increased its position in shares of Soluna by 97.7% in the fourth quarter. Azora Capital LP now owns 29,369 shares of the company's stock worth $34,000 after purchasing an additional 14,513 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Soluna in the second quarter worth $353,000. Institutional investors and hedge funds own 23.19% of the company's stock.

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.

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