Soluna (NASDAQ:SLNH) Announces Quarterly Earnings Results

Soluna (NASDAQ:SLNH) issued its quarterly earnings data on Friday. The company reported ($0.24) EPS for the quarter, Zacks reports. Soluna had a negative return on equity of 71.50% and a negative net margin of 179.73%.The company had revenue of $9.39 million during the quarter.

Soluna Stock Up 2.8%

Shares of NASDAQ SLNH traded up $0.06 on Friday, reaching $2.22. 37,904,169 shares of the company’s stock traded hands, compared to its average volume of 31,647,210. Soluna has a 12 month low of $0.41 and a 12 month high of $5.14. The business’s 50 day simple moving average is $1.07 and its two-hundred day simple moving average is $1.42. The company has a market cap of $313.79 million, a price-to-earnings ratio of -0.25 and a beta of 5.15. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.18.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Soluna from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.00.

Hedge Funds Weigh In On Soluna

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vident Advisory LLC bought a new position in shares of Soluna during the fourth quarter valued at approximately $67,000. XTX Topco Ltd increased its stake in shares of Soluna by 59.3% during the fourth quarter. XTX Topco Ltd now owns 128,294 shares of the company’s stock valued at $150,000 after purchasing an additional 47,781 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Soluna during the fourth quarter valued at approximately $200,000. Heights Capital Management Inc. bought a new position in shares of Soluna during the fourth quarter valued at approximately $2,391,000. Finally, Squarepoint Ops LLC bought a new position in shares of Soluna during the fourth quarter valued at approximately $30,000. 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.