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

Key Points

• Soluna CFO Michael Picchi bought 20,000 shares at an average price of $1.13, investing $22,600 and increasing his ownership to 1,431,250 shares. He has also purchased 30,000 additional shares in two transactions earlier in August.
• SLNH recently traded at $1.08, with a market capitalization of approximately $266 million and a highly volatile beta of 5.13. The company reported a quarterly loss of $0.18 per share, missing estimates, while revenue of $15.06 million also fell short of expectations.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating; the consensus rating is Hold with a $4.00 price target. Institutional investors own approximately 23.19% of the company.

Soluna Holdings, Inc. (NASDAQ:SLNH - Get Free Report) CFO Michael Picchi purchased 20,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was purchased 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 in the company, valued at approximately $1,617,312.50. This trade represents a 1.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

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

Soluna Price Performance

SLNH traded down $0.03 during trading on Monday, reaching $1.08. 7,136,831 shares of the stock were exchanged, compared to its average volume of 12,852,344. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.06 and a quick ratio of 2.06. The company has a market capitalization of $266.44 million, a price-to-earnings ratio of -0.96 and a beta of 5.13. Soluna Holdings, Inc. has a 1 year low of $0.43 and a 1 year high of $5.14. The business's 50 day moving average price is $1.26 and its two-hundred day moving average price is $1.22.

Soluna (NASDAQ:SLNH - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $15.06 million during the quarter, compared to analysts' expectations of $15.70 million. As a group, equities research analysts anticipate that Soluna Holdings, Inc. will post -0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SLNH shares. HC Wainwright reaffirmed a "buy" rating and issued a $4.00 price target on shares of Soluna in a report on Monday, August 17th. Zacks Research raised shares of Soluna to a "hold" rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised Soluna from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $4.00.

Institutional Trading of Soluna

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLNH. Renaissance Technologies LLC lifted 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 purchasing an additional 579,335 shares in the last quarter. Ardsley Advisory Partners LP purchased a new stake in shares of Soluna during the fourth quarter worth about $2,018,000. Yorkville Advisors Global LP purchased a new stake in shares of Soluna during the first quarter worth about $237,000. Azora Capital LP raised 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 valued at $34,000 after buying an additional 14,513 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Soluna in the second quarter valued at approximately $353,000. Hedge funds and other institutional investors 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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