Soluna Holdings, Inc. (NASDAQ:SLNH) Sees Large Growth in Short Interest

Soluna Holdings, Inc. (NASDAQ:SLNH) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 5,197,018 shares, a growth of 69.1% from the January 15th total of 3,073,628 shares. Based on an average trading volume of 5,353,119 shares, the days-to-cover ratio is currently 1.0 days. Currently, 8.4% of the company’s shares are sold short. Currently, 8.4% of the company’s shares are sold short. Based on an average trading volume of 5,353,119 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SLNH. HC Wainwright raised shares of Soluna from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Thursday, December 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Soluna in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Soluna Stock Down 3.0%

NASDAQ:SLNH opened at $0.88 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.18 and a quick ratio of 1.18. The firm’s 50-day moving average price is $1.40 and its 200-day moving average price is $1.61. The company has a market capitalization of $60.31 million, a PE ratio of -0.10 and a beta of 4.56. Soluna has a 1-year low of $0.36 and a 1-year high of $5.14.

Soluna (NASDAQ:SLNH) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.09). Soluna had a negative return on equity of 170.50% and a negative net margin of 274.18%.The business had revenue of $8.42 million for the quarter, compared to the consensus estimate of $9.00 million.

Institutional Trading of Soluna

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Focus Partners Wealth purchased a new position in shares of Soluna in the 3rd quarter worth about $25,000. Scientech Research LLC bought a new position in Soluna in the third quarter valued at about $31,000. Azora Capital LP purchased a new stake in Soluna during the third quarter valued at approximately $35,000. Matauro LLC bought a new stake in shares of Soluna during the 4th quarter valued at $28,000. Finally, SBI Securities Co. Ltd. increased its position in Soluna by 118.8% in the second quarter. SBI Securities Co. Ltd. now owns 64,766 shares of the company’s stock worth $37,000 after buying an additional 35,167 shares in the last quarter. Hedge funds and other institutional investors own 23.19% of the company’s stock.

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.