Soluna (NASDAQ:SLNH) Trading Down 3.1% - Time to Sell?

Key Points

• Soluna shares fell 3.1% on Friday, trading as low as $1.24 before last changing hands at $1.26, with volume below average.
• Analyst sentiment is mixed but cautious: the stock has a consensus rating of Hold and an average price target of $5.00, while recent reports included a downgrade from sell to hold and another rating adjustment lower within sell territory.
• The company continues to post weak fundamentals, reporting a Q1 loss of $0.24 per share on $9.39 million in revenue, alongside a negative net margin and return on equity, even as CFO Michael Picchi bought 100,000 shares in May.

Soluna Holdings, Inc. (NASDAQ:SLNH - Get Free Report) shares dropped 3.1% on Friday . The company traded as low as $1.24 and last traded at $1.26. Approximately 10,624,591 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 18,178,696 shares. The stock had previously closed at $1.30.

Analyst Ratings Changes

Several research firms have recently issued reports on SLNH. Wall Street Zen upgraded shares of Soluna from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. Weiss Ratings raised Soluna from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Soluna has a consensus rating of "Hold" and an average price target of $5.00.

Soluna Trading Down 3.1%

The stock's 50 day moving average is $1.59 and its 200-day moving average is $1.26. The company has a market cap of $198.76 million, a P/E ratio of -0.77 and a beta of 5.11. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.16.

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

Insider Transactions at Soluna

In other Soluna news, CFO Michael Picchi bought 100,000 shares of the business's stock in a transaction on Thursday, May 21st. The shares were acquired at an average cost of $1.63 per share, for a total transaction of $163,000.00. Following the purchase, the chief financial officer owned 1,381,250 shares in the company, valued at approximately $2,251,437.50. This trade represents a 7.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.10% of the company's stock.

Hedge Funds Weigh In On Soluna

A number of institutional investors have recently bought and sold shares of the stock. Focus Partners Wealth bought a new stake in Soluna during the third quarter valued at about $25,000. Matauro LLC purchased a new position in shares of Soluna during the 4th quarter valued at about $28,000. Squarepoint Ops LLC purchased a new position in shares of Soluna during the 4th quarter valued at about $30,000. Scientech Research LLC bought a new position in shares of Soluna during the 3rd quarter valued at approximately $31,000. Finally, Azora Capital LP increased its holdings in Soluna by 97.7% in the 4th quarter. Azora Capital LP now owns 29,369 shares of the company's stock worth $34,000 after acquiring an additional 14,513 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.