Soluna Holdings, Inc. (NASDAQ:SLNH) Short Interest Update

Soluna Holdings, Inc. (NASDAQ:SLNH) was the recipient of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 5,197,018 shares, an increase of 69.1% from the January 15th total of 3,073,628 shares. Currently, 8.4% of the shares of the company are sold short. Based on an average daily volume of 5,353,119 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily volume of 5,353,119 shares, the days-to-cover ratio is presently 1.0 days. Currently, 8.4% of the shares of the company are sold short.

Soluna Price Performance

Soluna stock traded down $0.03 during trading hours on Friday, hitting $0.88. 4,655,236 shares of the stock were exchanged, compared to its average volume of 6,069,196. The stock has a market capitalization of $60.31 million, a P/E ratio of -0.10 and a beta of 4.56. The business’s 50-day moving average is $1.40 and its two-hundred day moving average is $1.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.18 and a current ratio of 1.18. Soluna has a 12 month low of $0.36 and a 12 month high of $5.14.

Soluna (NASDAQ:SLNH) last announced its earnings results on Friday, November 14th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.09). Soluna had a negative return on equity of 170.50% and a negative net margin of 274.18%.The business had revenue of $8.42 million during the quarter, compared to analyst estimates of $9.00 million.

Institutional Trading of Soluna

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Soluna by 756.0% in the fourth quarter. Geode Capital Management LLC now owns 1,889,533 shares of the company’s stock valued at $2,211,000 after purchasing an additional 1,668,801 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Soluna by 989.3% in the 4th quarter. Jane Street Group LLC now owns 665,649 shares of the company’s stock valued at $779,000 after buying an additional 604,540 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Soluna during the fourth quarter worth $299,000. Marshall Wace LLP acquired a new position in shares of Soluna during the fourth quarter valued at $272,000. Finally, Millennium Management LLC bought a new position in Soluna in the third quarter valued at about $471,000. 23.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SLNH has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Soluna in a report on Monday, December 29th. HC Wainwright raised Soluna from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.00.

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.