Soluna (NASDAQ:SLNH) Upgraded at Zacks Research

Zacks Research upgraded shares of Soluna (NASDAQ:SLNH) to a hold rating in a report released on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Weiss Ratings upgraded Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. HC Wainwright began coverage on shares of Soluna in a report on Monday. They set a “buy” rating and a $4.00 target price for the company. Finally, Wall Street Zen upgraded shares of Soluna from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Soluna currently has an average rating of “Hold” and a consensus price target of $4.00.

Soluna Stock Performance

NASDAQ SLNH opened at $1.32 on Tuesday. The company has a market cap of $208.23 million, a PE ratio of -0.81 and a beta of 5.11. The stock’s 50 day simple moving average is $1.49 and its 200-day simple moving average is $1.25. Soluna has a 1-year low of $0.41 and a 1-year high of $5.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.75 and a quick ratio of 1.75.

Soluna (NASDAQ:SLNH) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.24) earnings per share (EPS) for the quarter. Soluna had a negative return on equity of 64.80% and a negative net margin of 190.87%.The firm had revenue of $9.39 million during the quarter. As a group, equities research analysts anticipate that Soluna will post -0.45 EPS for the current fiscal year.

Insider Activity at Soluna

In related news, CFO Michael Picchi purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average price of $1.63 per share, with a total value of $163,000.00. Following the completion of the acquisition, the chief financial officer owned 1,381,250 shares in the company, valued at $2,251,437.50. This trade represents a 7.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 10.10% of the company’s stock.

Institutional Trading of Soluna

Several large investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth acquired a new stake in shares of Soluna in the 3rd quarter worth $25,000. Millennium Management LLC purchased a new stake in shares of Soluna in the third quarter valued at about $471,000. Scientech Research LLC acquired a new stake in Soluna during the third quarter worth about $31,000. Matauro LLC acquired a new stake in Soluna during the fourth quarter worth about $28,000. Finally, Fiduciary Alliance LLC raised its stake in Soluna by 131.2% during the fourth quarter. Fiduciary Alliance LLC now owns 87,845 shares of the company’s stock worth $103,000 after purchasing an additional 49,845 shares during the period. 23.19% of the stock is currently owned by hedge funds and other institutional investors.

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.