Soluna Holdings, Inc. (NASDAQ:SLNH) Sees Significant Increase in Short Interest

Soluna Holdings, Inc. (NASDAQ:SLNH) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 1,970,000 shares, agrowthof419.5% from the June 30th total of 379,200 shares. Currently,9.5% of the shares of the stock are short sold. Based on an average daily volume of 1,730,000 shares, the short-interest ratio is currently 1.1 days. Based on an average daily volume of 1,730,000 shares, the short-interest ratio is currently 1.1 days. Currently,9.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, HC Wainwright started coverage on Soluna in a research note on Wednesday, July 23rd. They issued a “neutral” rating on the stock.

Soluna Stock Down 6.4%

SLNH stock opened at $0.43 on Friday. Soluna has a 1-year low of $0.36 and a 1-year high of $5.31. The stock has a market cap of $7.81 million, a price-to-earnings ratio of -0.04 and a beta of 3.69. The company’s 50 day moving average is $0.65 and its 200 day moving average is $0.96. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.38.

Soluna (NASDAQ:SLNH) last announced its earnings results on Friday, May 16th. The company reported ($0.88) earnings per share for the quarter. The company had revenue of $5.94 million for the quarter. Soluna had a negative net margin of 208.98% and a negative return on equity of 154.07%.

Insider Activity at Soluna

In other news, Director William P. Phelan sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $2.98, for a total value of $29,800.00. Following the transaction, the director owned 175,421 shares of the company’s stock, valued at approximately $522,754.58. This represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 16,650 shares of company stock worth $48,420. 23.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Soluna

An institutional investor recently raised its position in Soluna stock. Dimensional Fund Advisors LP grew its holdings in shares of Soluna Holdings, Inc. (NASDAQ:SLNH) by 67.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,041 shares of the company’s stock after acquiring an additional 9,264 shares during the period. Dimensional Fund Advisors LP owned about 0.28% of Soluna worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 23.19% of the stock is currently owned by hedge funds and other institutional investors.

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.