Soluna (NASDAQ:SLNH) Raised to “Strong-Buy” at Rosenblatt Securities

Soluna (NASDAQ:SLNHGet Free Report) was upgraded by analysts at Rosenblatt Securities to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other equities research analysts also recently commented on the stock. Zacks Research upgraded shares of Soluna to a “hold” rating in a research report on Tuesday, July 21st. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Soluna in a research note on Monday, August 17th. Wall Street Zen lowered shares of Soluna from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Soluna in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Read Our Latest Report on Soluna

Soluna Price Performance

Soluna stock opened at $1.26 on Wednesday. The stock has a 50-day moving average price of $1.20 and a two-hundred day moving average price of $1.24. Soluna has a 12 month low of $0.59 and a 12 month high of $5.14. The company has a market capitalization of $310.84 million, a PE ratio of -1.12 and a beta of 5.07. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02.

Soluna (NASDAQ:SLNHGet Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.18) earnings per share 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 firm had revenue of $15.06 million for the quarter, compared to the consensus estimate of $15.70 million. Analysts expect that Soluna will post -0.41 EPS for the current year.

Institutional Investors Weigh In On Soluna

Several large investors have recently modified their holdings of SLNH. RFG Advisory LLC acquired a new stake in Soluna during the 2nd quarter worth about $135,000. Azora Capital LP acquired a new position in shares of Soluna in the 2nd quarter valued at about $32,000. Avaii Wealth Management LLC acquired a new position in shares of Soluna in the 2nd quarter valued at about $25,000. Bank of New York Mellon Corp bought a new stake in shares of Soluna during the 2nd quarter valued at about $353,000. Finally, OMERS ADMINISTRATION Corp grew its stake in 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 purchasing an additional 38,100 shares during the period. 23.19% of the stock is currently owned by institutional investors and hedge funds.

Soluna Company Profile

(Get Free Report)

Soluna Holdings, Inc, doing business as Soluna, develops and operates data centers designed to use excess renewable energy for high-performance computing. The company’s facilities support applications including cryptocurrency mining, artificial intelligence and other compute-intensive workloads, helping renewable power producers monetize electricity that might otherwise be curtailed.

Soluna’s business includes the development, construction and operation of modular data centers, as well as computing services for customers and its own digital-asset mining activities.

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