Soluna (NASDAQ:SLNH) CFO Michael Picchi Acquires 20,000 Shares

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

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

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

Soluna Stock Down 2.7%

Shares of NASDAQ:SLNH opened at $1.08 on Tuesday. Soluna Holdings, Inc. has a 52-week low of $0.43 and a 52-week high of $5.14. The stock has a market cap of $266.44 million, a P/E ratio of -0.96 and a beta of 5.13. The business has a fifty day moving average of $1.24 and a two-hundred day moving average of $1.22. The company has a quick ratio of 2.06, a current 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) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.07). Soluna had a negative return on equity of 52.19% and a negative net margin of 182.16%.The company had revenue of $15.06 million for the quarter, compared to analysts’ expectations of $15.70 million. On average, research analysts expect that Soluna Holdings, Inc. will post -0.41 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Trading of Soluna

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its stake in shares of Soluna by 226.4% in the 1st quarter. Renaissance Technologies LLC now owns 835,277 shares of the company’s stock valued at $590,000 after acquiring an additional 579,335 shares during the period. Ardsley Advisory Partners LP acquired a new position in Soluna during the fourth quarter worth $2,018,000. OMERS ADMINISTRATION Corp boosted its position in shares of Soluna by 55.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 107,100 shares of the company’s stock worth $76,000 after buying an additional 38,100 shares during the period. Yorkville Advisors Global LP acquired a new stake in shares of Soluna in the first quarter valued at $237,000. Finally, Marshall Wace LLP acquired a new stake in shares of Soluna in the fourth quarter valued at $272,000. 23.19% of the stock is 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.