Soluna (NASDAQ:SLNH) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright started coverage on shares of Soluna (NASDAQ:SLNH) in a report issued on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $4.00 price objective on the stock.

Several other analysts have also recently commented on SLNH. Weiss Ratings raised Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Wall Street Zen raised Soluna from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.00.

Soluna Trading Up 20.4%

NASDAQ SLNH opened at $1.36 on Monday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $214.54 million, a P/E ratio of -0.83 and a beta of 5.11. Soluna has a 52-week low of $0.41 and a 52-week high of $5.14. The firm has a 50-day moving average price of $1.53 and a 200 day moving average price of $1.25.

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

Insider Activity

In other Soluna news, CFO Michael Picchi acquired 100,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 1,381,250 shares of the company’s stock, valued at approximately $2,251,437.50. This represents a 7.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Soluna

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Heights Capital Management Inc. acquired a new stake in shares of Soluna in the fourth quarter valued at approximately $2,391,000. Geode Capital Management LLC lifted its stake in Soluna by 756.0% in the 4th quarter. Geode Capital Management LLC now owns 1,889,533 shares of the company’s stock valued at $2,211,000 after buying an additional 1,668,801 shares in the last quarter. Ardsley Advisory Partners LP acquired a new stake in Soluna during the 4th quarter valued at $2,018,000. Renaissance Technologies LLC grew its holdings in Soluna by 226.4% during the 1st quarter. Renaissance Technologies LLC now owns 835,277 shares of the company’s stock valued at $590,000 after buying an additional 579,335 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Soluna by 989.3% during the fourth quarter. Jane Street Group LLC now owns 665,649 shares of the company’s stock worth $779,000 after buying an additional 604,540 shares in the last quarter. Institutional investors and hedge funds own 23.19% of the company’s stock.

Soluna Company Profile

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.