Soluna (NASDAQ:SLNH) Receives Sell (D-) Rating from Weiss Ratings

Soluna (NASDAQ:SLNH)‘s stock had its “sell (d-)” rating reaffirmed by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on the company. Wall Street Zen upgraded Soluna from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. HC Wainwright initiated coverage on Soluna in a research note on Wednesday, July 23rd. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Soluna Stock Performance

Shares of SLNH opened at $2.83 on Wednesday. The stock has a 50-day simple moving average of $1.07 and a 200-day simple moving average of $0.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $174.14 million, a PE ratio of -0.31 and a beta of 4.34. Soluna has a 1 year low of $0.36 and a 1 year high of $4.78.

Soluna (NASDAQ:SLNH) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.07. The business had revenue of $6.16 million during the quarter, compared to analysts’ expectations of $8.10 million. Soluna had a negative return on equity of 183.79% and a negative net margin of 222.81%.

Institutional Investors Weigh In On Soluna

An institutional investor recently raised its position in Soluna stock. SBI Securities Co. Ltd. increased its holdings in shares of Soluna Holdings, Inc. (NASDAQ:SLNH) by 118.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,766 shares of the company’s stock after purchasing 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 quarter. Institutional investors own 23.19% of the company’s stock.

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.