Short Interest in Soluna Holdings, Inc. (NASDAQ:SLNH) Rises By 27.6%

Soluna Holdings, Inc. (NASDAQ:SLNH) was the target of a large growth in short interest in August. As of August 15th, there was short interest totaling 1,710,000 shares, a growth of 27.6% from the July 31st total of 1,340,000 shares. Approximately 6.8% of the company’s stock are short sold. Based on an average daily volume of 2,000,000 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 2,000,000 shares, the days-to-cover ratio is currently 0.9 days. Approximately 6.8% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, HC Wainwright started coverage on shares of Soluna in a research note on Wednesday, July 23rd. They set a “neutral” rating for the company. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Soluna Stock Performance

Shares of SLNH stock opened at $0.53 on Wednesday. The firm has a market capitalization of $15.83 million, a PE ratio of -0.06 and a beta of 3.47. The firm has a fifty day simple moving average of $0.58 and a two-hundred day simple moving average of $0.70. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.34. Soluna has a 12 month low of $0.36 and a 12 month high of $4.78.

Soluna (NASDAQ:SLNH) last posted its earnings results on Thursday, August 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.07. Soluna had a negative net margin of 222.81% and a negative return on equity of 183.79%. The firm had revenue of $6.16 million during the quarter, compared to analyst estimates of $8.10 million.

Institutional Trading of Soluna

Several institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its stake in shares of Soluna by 118.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 64,766 shares of the company’s stock worth $37,000 after acquiring an additional 35,167 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Soluna by 67.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 23,041 shares of the company’s stock worth $48,000 after acquiring an additional 9,264 shares in the last quarter. Finally, Arcadia Wealth Management Inc. bought a new stake in shares of Soluna in the 4th quarter worth $42,000. 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.