Soluna (NASDAQ:SLNH) CFO Buys 20,000 Shares of Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) CFO Michael Picchi purchased 20,000 shares of Soluna stock in a transaction on Friday, August 28th. The shares were acquired at an average cost of $1.13 per share, for a total transaction of $22,600.00. Following the purchase, the chief financial officer owned 1,431,250 shares in the company, valued at approximately $1,617,312.50. This trade represents a 1.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Michael Picchi also recently made the following trade(s):

• On Monday, August 24th, Michael Picchi acquired 10,000 shares of Soluna stock. The stock was acquired at an average cost of $1.14 per share, with a total value of $11,400.00.
• On Thursday, August 20th, Michael Picchi bought 20,000 shares of Soluna stock. The stock was acquired at an average price of $1.15 per share, with a total value of $23,000.00.

Soluna Trading Down 2.7%

NASDAQ SLNH traded down $0.03 during trading hours on Monday, hitting $1.08. 7,136,831 shares of the company’s stock were exchanged, compared to its average volume of 12,852,344. The business’s 50 day moving average is $1.26 and its 200-day moving average is $1.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.06 and a current ratio of 2.06. Soluna Holdings, Inc. has a 12-month low of $0.43 and a 12-month high of $5.14. The firm has a market capitalization of $266.44 million, a P/E ratio of -0.96 and a beta of 5.13.

Soluna (NASDAQ:SLNH) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.07). Soluna had a negative net margin of 182.16% and a negative return on equity of 52.19%. The business had revenue of $15.06 million during the quarter, compared to analysts’ expectations of $15.70 million. As a group, analysts anticipate that Soluna Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SLNH has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Soluna in a research note on Monday, August 17th. Finally, Zacks Research upgraded shares of Soluna to a “hold” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.00.

Institutional Trading of Soluna

Institutional investors and hedge funds have recently bought and sold shares of the business. Focus Partners Wealth acquired a new stake in Soluna in the 3rd quarter valued at $25,000. Scientech Research LLC purchased a new stake in shares of Soluna during the third quarter valued at approximately $31,000. Azora Capital LP raised its stake in shares of Soluna by 97.7% during the fourth quarter. Azora Capital LP now owns 29,369 shares of the company’s stock valued at $34,000 after purchasing an additional 14,513 shares during the period. Avaii Wealth Management LLC acquired a new position in shares of Soluna during the second quarter worth $25,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Soluna in the fourth quarter valued at $30,000. Institutional investors and hedge funds 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.