Soluna (NASDAQ:SLNH) Rating Increased to Hold at Wall Street Zen

Soluna (NASDAQ:SLNH) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, HC Wainwright started coverage on Soluna in a report on Wednesday, July 23rd. They issued a “neutral” rating for the company. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Soluna Price Performance

NASDAQ SLNH opened at $0.72 on Friday. Soluna has a one year low of $0.36 and a one year high of $4.78. The stock has a 50-day moving average of $0.58 and a 200 day moving average of $0.69. The company has a market capitalization of $21.71 million, a price-to-earnings ratio of -0.08 and a beta of 3.47. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.35 and a current ratio of 0.35.

Soluna (NASDAQ:SLNH) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.69) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $8.10 million.

Institutional Trading of Soluna

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Soluna by 67.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 23,041 shares of the company’s stock worth $48,000 after acquiring an additional 9,264 shares during the last quarter. Arcadia Wealth Management Inc. bought a new position in shares of Soluna during the 4th quarter valued at approximately $42,000. Finally, SBI Securities Co. Ltd. increased its position in shares of Soluna by 118.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 64,766 shares of the company’s stock valued at $37,000 after purchasing an additional 35,167 shares during the last quarter. Institutional investors own 23.19% of the company’s stock.

About Soluna

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.