Soluna (NASDAQ:SLNH) Director William Phelan Sells 12,037 Shares of Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) Director William Phelan sold 12,037 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $1.12, for a total value of $13,481.44. Following the transaction, the director owned 2,279,985 shares in the company, valued at $2,553,583.20. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Soluna Stock Performance

NASDAQ SLNH remained flat at $1.20 on Friday. The company’s stock had a trading volume of 4,817,597 shares, compared to its average volume of 12,733,442. Soluna Holdings, Inc. has a 1-year low of $0.43 and a 1-year high of $5.14. The company has a market cap of $296.04 million, a P/E ratio of -1.07 and a beta of 5.07. The stock’s 50 day simple moving average is $1.22 and its two-hundred day simple moving average is $1.22. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02.

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

Institutional Investors Weigh In On Soluna

Hedge funds have recently made changes to their positions in the stock. Avaii Wealth Management LLC bought a new stake in Soluna during the second quarter valued at about $25,000. Focus Partners Wealth purchased a new stake in shares of Soluna during the third quarter valued at about $25,000. Squarepoint Ops LLC bought a new stake in shares of Soluna in the 4th quarter valued at about $30,000. Scientech Research LLC bought a new stake in shares of Soluna in the 3rd quarter valued at about $31,000. Finally, Azora Capital LP purchased a new position in shares of Soluna in the 2nd quarter worth approximately $32,000. 23.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.