Soluna Holdings, Inc. (NASDAQ:SLNH) Short Interest Update

Key Points

• Soluna Holdings, Inc. (NASDAQ:SLNH) experienced a 414.8% increase in short interest in September, with a total of 6,280,000 shares sold short, representing 27.3% of the company's total shares.
• A hedge fund, SBI Securities Co. Ltd., increased its stake in Soluna by 118.8% during the 2nd quarter, owning approximately 0.36% of the company by the end of the reporting period.
• Soluna's stock traded down 6.7% recently, with a current market price of $2.35, following a quarterly earnings report that showed a loss of ($0.69) per share, slightly beating estimates.

Soluna Holdings, Inc. (NASDAQ:SLNH - Get Free Report) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 6,280,000 shares, a growth of 414.8% from the August 31st total of 1,220,000 shares. Based on an average trading volume of 8,940,000 shares, the short-interest ratio is presently 0.7 days. Currently, 27.3% of the shares of the company are sold short. Currently, 27.3% of the shares of the company are sold short. Based on an average trading volume of 8,940,000 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On Soluna

A hedge fund recently raised its stake in Soluna stock. SBI Securities Co. Ltd. lifted its holdings in Soluna Holdings, Inc. (NASDAQ:SLNH - Free Report) by 118.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,766 shares of the company's stock after acquiring an additional 35,167 shares during the quarter. SBI Securities Co. Ltd. owned approximately 0.36% of Soluna worth $37,000 at the end of the most recent reporting period. Institutional investors own 23.19% of the company's stock.

Soluna Trading Down 6.7%

SLNH stock opened at $2.35 on Wednesday. Soluna has a 1-year low of $0.36 and a 1-year high of $4.78. The firm has a market cap of $70.85 million, a P/E ratio of -0.26 and a beta of 3.47. The business's 50 day moving average is $0.85 and its 200-day moving average is $0.77. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.34.

Soluna (NASDAQ:SLNH - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.07. Soluna had a negative return on equity of 183.79% and a negative net margin of 222.81%.The company had revenue of $6.16 million for the quarter, compared to analyst estimates of $8.10 million.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SLNH shares. HC Wainwright started coverage on Soluna in a research note on Wednesday, July 23rd. They set a "neutral" rating on the stock. Wall Street Zen upgraded Soluna from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold".

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.

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