Soluna (NASDAQ:SLNH) CFO Michael Picchi Purchases 10,000 Shares

Key Points

• Soluna CFO Michael Picchi purchased 10,000 shares at an average price of $1.14, investing $11,400 and increasing his ownership to 1,411,250 shares. He also bought 20,000 shares at $1.15 on August 20.
• Soluna shares traded near $1.15, well below the 52-week high of $5.14. The company recently reported a quarterly loss of $0.18 per share, missing analysts’ estimate of a $0.11 loss, while revenue also fell short of expectations.
• Analyst opinion remains mixed, producing a consensus “Hold” rating and a $4.00 target price; institutional investors and hedge funds own approximately 23.19% of the company.

Soluna Holdings, Inc. (NASDAQ:SLNH - Get Free Report) CFO Michael Picchi purchased 10,000 shares of the business's stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $1.14 per share, for a total transaction of $11,400.00. Following the transaction, the chief financial officer owned 1,411,250 shares of the company's stock, valued at $1,608,825. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

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

Soluna Stock Performance

Shares of SLNH traded down $0.04 during mid-day trading on Monday, reaching $1.15. 8,688,061 shares of the company's stock were exchanged, compared to its average volume of 12,935,410. The business's fifty day simple moving average is $1.31 and its 200-day simple moving average is $1.21. The stock has a market capitalization of $280.06 million, a PE ratio of -1.02 and a beta of 5.13. Soluna Holdings, Inc. has a 52-week low of $0.43 and a 52-week high of $5.14. 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 (NASDAQ:SLNH - Get Free Report) last released its quarterly 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). Soluna had a negative net margin of 182.16% and a negative return on equity of 52.19%. The business had revenue of $15.06 million during the quarter, compared to analysts' expectations of $15.70 million. On average, equities research analysts expect that Soluna Holdings, Inc. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SLNH shares. HC Wainwright reissued a "buy" rating and set a $4.00 price target on shares of Soluna in a report on Monday, August 17th. Weiss Ratings raised Soluna from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, June 12th. Finally, Zacks Research upgraded Soluna to a "hold" rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Soluna has a consensus rating of "Hold" and a consensus target price of $4.00.

Hedge Funds Weigh In On Soluna

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLNH. Renaissance Technologies LLC lifted its holdings in shares of 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 buying an additional 579,335 shares during the period. Ardsley Advisory Partners LP purchased a new position in Soluna in the fourth quarter worth $2,018,000. Yorkville Advisors Global LP purchased a new position in Soluna in the first quarter worth $237,000. Azora Capital LP lifted its holdings in 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 acquiring an additional 14,513 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Soluna in the second quarter valued at $353,000. Institutional investors and hedge funds own 23.19% of the company's stock.

About Soluna

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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