Soluna Holdings, Inc. (NASDAQ:SLNH – Get Free Report) CFO Michael Picchi acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were bought at an average cost of $1.14 per share, with a total value of $11,400.00. Following the completion of the transaction, the chief financial officer directly owned 1,411,250 shares in the company, valued at $1,608,825. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Michael Picchi also recently made the following trade(s):
- On Thursday, August 20th, Michael Picchi bought 20,000 shares of Soluna stock. The stock was bought at an average cost of $1.15 per share, for a total transaction of $23,000.00.
Soluna Price Performance
Soluna stock opened at $1.16 on Thursday. Soluna Holdings, Inc. has a 12 month low of $0.43 and a 12 month high of $5.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.06 and a quick ratio of 2.06. The business has a 50 day simple moving average of $1.28 and a 200-day simple moving average of $1.22. The stock has a market capitalization of $283.72 million, a PE ratio of -1.04 and a beta of 5.13.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on SLNH shares. Zacks Research upgraded shares of Soluna to a “hold” rating in a research note on Tuesday, July 21st. HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Soluna in a research report on Monday, August 17th. Finally, Weiss Ratings raised Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. One equities 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 stock. According to data from MarketBeat.com, Soluna presently has a consensus rating of “Hold” and an average target price of $4.00.
Check Out Our Latest Analysis on SLNH
Institutional Trading of Soluna
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its position in shares of Soluna by 226.4% during 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 stake in shares of Soluna in the 4th quarter worth approximately $2,018,000. Yorkville Advisors Global LP acquired a new stake in shares of Soluna in the 1st quarter worth approximately $237,000. Azora Capital LP increased its stake in Soluna by 97.7% in the 4th quarter. Azora Capital LP now owns 29,369 shares of the company’s stock valued at $34,000 after purchasing an additional 14,513 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Soluna in the 2nd quarter valued at approximately $353,000. Institutional investors and hedge funds own 23.19% of the company’s stock.
About Soluna
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.
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