Soluna (NASDAQ:SLNH) Receives Buy Rating from HC Wainwright

Key Points

• HC Wainwright restated its buy rating on Soluna and set a $4.00 price target, implying about 254% upside from the previous close.
• Other analysts were mixed: Wall Street Zen upgraded Soluna to hold, while Weiss Ratings improved its view slightly, leaving the stock with an overall hold consensus and a $4.00 target.
• Soluna’s shares opened at $1.13, and the company reported a loss of $0.24 per share on $9.39 million in quarterly revenue; meanwhile, CFO Michael Picchi bought 100,000 shares in a recent insider purchase.

Soluna (NASDAQ:SLNH - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $4.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 253.98% from the company's previous close.

Several other analysts also recently issued reports on SLNH. Wall Street Zen raised shares of Soluna from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. Weiss Ratings upgraded shares of Soluna from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, June 12th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $4.00.

Soluna Price Performance

SLNH opened at $1.13 on Monday. The business has a 50 day moving average price of $1.54 and a 200 day moving average price of $1.25. Soluna has a twelve month low of $0.41 and a twelve month high of $5.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market cap of $178.26 million, a P/E ratio of -0.69 and a beta of 5.11.

Soluna (NASDAQ:SLNH - Get Free Report) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.24) EPS for the quarter. Soluna had a negative net margin of 190.87% and a negative return on equity of 64.80%. The company had revenue of $9.39 million for the quarter.

Insider Buying and Selling

In other Soluna news, CFO Michael Picchi purchased 100,000 shares of the company's stock in a transaction on Thursday, May 21st. The shares were bought at an average cost of $1.63 per share, with a total value of $163,000.00. Following the transaction, the chief financial officer directly owned 1,381,250 shares in the company, valued at approximately $2,251,437.50. This represents a 7.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 10.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Soluna

Several hedge funds have recently modified their holdings of the business. OMERS ADMINISTRATION Corp grew its stake in shares of Soluna by 55.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 107,100 shares of the company's stock worth $76,000 after acquiring an additional 38,100 shares during the last quarter. Renaissance Technologies LLC boosted 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 during the period. Yorkville Advisors Global LP bought a new stake in Soluna in the 1st quarter valued at $237,000. Vident Advisory LLC acquired a new stake in Soluna in the 4th quarter worth $67,000. Finally, XTX Topco Ltd grew its position in Soluna by 59.3% in the 4th quarter. XTX Topco Ltd now owns 128,294 shares of the company's stock worth $150,000 after purchasing an additional 47,781 shares during the last quarter. 23.19% of the stock is owned by institutional investors.

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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