Soluna (NASDAQ:SLNH) CFO Michael Picchi Acquires 10,000 Shares of Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) CFO Michael Picchi bought 10,000 shares of the stock in a transaction on Monday, August 24th. The shares were bought at an average price of $1.14 per share, for a total transaction of $11,400.00. Following the completion of the transaction, the chief financial officer directly owned 1,411,250 shares of the company’s stock, valued at $1,608,825. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, August 20th, Michael Picchi purchased 20,000 shares of Soluna stock. The shares were bought at an average price of $1.15 per share, with a total value of $23,000.00.

Soluna Price Performance

Shares of NASDAQ:SLNH traded down $0.04 during trading 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 market cap of $280.06 million, a PE ratio of -1.02 and a beta of 5.13. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $1.31 and a two-hundred day moving average price of $1.21. Soluna Holdings, Inc. has a 12-month low of $0.43 and a 12-month high of $5.14.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on SLNH. 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. Zacks Research upgraded shares of Soluna to a “hold” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. One 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.00.

Institutional Trading of Soluna

Large investors have recently made changes to their positions in the stock. Focus Partners Wealth purchased a new stake in shares of Soluna during the third quarter worth about $25,000. Scientech Research LLC purchased a new position in shares of Soluna during the third quarter valued at approximately $31,000. Azora Capital LP boosted its position in Soluna by 97.7% during the fourth quarter. Azora Capital LP now owns 29,369 shares of the company’s stock worth $34,000 after acquiring an additional 14,513 shares during the last quarter. Avaii Wealth Management LLC purchased a new stake in Soluna in the 2nd quarter worth approximately $25,000. Finally, Squarepoint Ops LLC acquired a new position in Soluna in the 4th quarter valued at $30,000. 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.