Soluna (NASDAQ:SLNH) Trading 4.2% Higher – Still a Buy?

Soluna Holdings, Inc. (NASDAQ:SLNH) shares traded up 4.2% during trading on Friday . The company traded as high as $1.62 and last traded at $1.48. 19,145,855 shares traded hands during trading, a decline of 8% from the average session volume of 20,917,472 shares. The stock had previously closed at $1.42.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SLNH shares. Wall Street Zen upgraded shares of Soluna from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings cut shares of Soluna from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Soluna currently has an average rating of “Hold” and an average price target of $5.00.

Soluna Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $233.47 million, a price-to-earnings ratio of -0.91 and a beta of 5.08. The stock’s 50 day simple moving average is $1.43 and its 200-day simple moving average is $1.29.

Soluna (NASDAQ:SLNH) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.24) earnings per share 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.

Insider Buying and Selling at Soluna

In other news, CFO Michael Picchi acquired 100,000 shares of Soluna stock in a transaction dated Thursday, May 21st. The stock was acquired at an average cost of $1.63 per share, for a total transaction of $163,000.00. Following the completion of the purchase, the chief financial officer owned 1,381,250 shares of the company’s stock, valued at $2,251,437.50. This represents a 7.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 10.10% of the company’s stock.

Institutional Trading of Soluna

A number of institutional investors and hedge funds have recently modified their holdings of the company. Focus Partners Wealth acquired a new stake in shares of Soluna in the third quarter worth $25,000. Scientech Research LLC acquired a new stake in shares of Soluna in the third quarter worth $31,000. Azora Capital LP lifted its stake in shares of Soluna by 97.7% in the fourth quarter. Azora Capital LP now owns 29,369 shares of the company’s stock worth $34,000 after buying an additional 14,513 shares during the last quarter. Matauro LLC acquired a new stake in shares of Soluna in the fourth quarter worth $28,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Soluna in the fourth quarter worth $30,000. 23.19% of the stock is currently owned by institutional investors and hedge funds.

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.