Soluna Holdings, Inc. (NASDAQ:SLNH) Short Interest Up 69.2% in February

Soluna Holdings, Inc. (NASDAQ:SLNH) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 1,020,000 shares, an increase of 69.2% from the February 13th total of 602,800 shares. Based on an average daily volume of 544,300 shares, the days-to-cover ratio is presently 1.9 days. Approximately 13.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Soluna

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp purchased a new stake in shares of Soluna during the 3rd quarter worth approximately $36,000. Virtu Financial LLC bought a new stake in Soluna in the third quarter worth $36,000. SBI Securities Co. Ltd. purchased a new stake in Soluna during the fourth quarter valued at $82,000. Dimensional Fund Advisors LP lifted its position in Soluna by 67.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 23,041 shares of the company’s stock valued at $48,000 after purchasing an additional 9,264 shares during the last quarter. Finally, Arcadia Wealth Management Inc. purchased a new position in shares of Soluna in the 4th quarter worth $42,000. 23.19% of the stock is owned by institutional investors.

Soluna Price Performance

Shares of SLNH traded up $0.00 during midday trading on Friday, hitting $0.97. 182,417 shares of the company traded hands, compared to its average volume of 348,423. The stock has a market cap of $8.12 million, a price-to-earnings ratio of -0.07 and a beta of 3.03. The firm has a 50 day moving average of $1.68 and a 200-day moving average of $2.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 0.59. Soluna has a 52 week low of $0.85 and a 52 week high of $8.80.

About Soluna

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.