Michael Picchi Purchases 20,000 Shares of Soluna (NASDAQ:SLNH) Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) CFO Michael Picchi bought 20,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average cost of $1.15 per share, for a total transaction of $23,000.00. Following the completion of the acquisition, the chief financial officer owned 1,401,250 shares in the company, valued at approximately $1,611,437.50. This trade represents a 1.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, August 24th, Michael Picchi purchased 10,000 shares of Soluna stock. The shares were purchased at an average cost of $1.14 per share, with a total value of $11,400.00.

Soluna Price Performance

Shares of NASDAQ SLNH traded down $0.04 during trading hours on Monday, hitting $1.15. 8,688,061 shares of the stock were exchanged, compared to its average volume of 12,935,410. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.06 and a current ratio of 2.06. The company has a market cap of $280.06 million, a PE ratio of -1.02 and a beta of 5.13. The company’s fifty day simple moving average is $1.31 and its two-hundred day simple moving average is $1.21. Soluna Holdings, Inc. has a 1-year low of $0.43 and a 1-year high of $5.14.

Soluna (NASDAQ:SLNH) last announced its quarterly earnings data 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). Soluna had a negative net margin of 182.16% and a negative return on equity of 52.19%. The firm had revenue of $15.06 million during the quarter, compared to the consensus estimate of $15.70 million. On average, sell-side analysts predict that Soluna Holdings, Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Zacks Research raised Soluna to a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings upgraded Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. Finally, HC Wainwright reissued a “buy” rating and set a $4.00 target price on shares of Soluna in a research note on Monday, August 17th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock 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 SLNH. Avaii Wealth Management LLC acquired a new position in shares of Soluna during the second quarter worth $25,000. Focus Partners Wealth bought a new position in shares of Soluna in the 3rd quarter valued at $25,000. Squarepoint Ops LLC acquired a new stake in shares of Soluna during the 4th quarter valued at $30,000. Scientech Research LLC acquired a new stake in shares of Soluna during the 3rd quarter valued at $31,000. Finally, Azora Capital LP bought a new stake in Soluna during the 2nd quarter worth $32,000. Institutional investors own 23.19% of the company’s stock.

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.