Insider Buying: Soluna (NASDAQ:SLNH) CFO Acquires $23,000.00 in Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) CFO Michael Picchi bought 20,000 shares of Soluna stock in a transaction on Thursday, August 20th. The stock was purchased at an average price 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 $1,611,437.50. This represents a 1.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through 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 price of $1.14 per share, with a total value of $11,400.00.

Soluna Stock Performance

NASDAQ:SLNH opened at $1.16 on Thursday. The firm has a 50 day simple moving average of $1.28 and a 200-day simple moving average of $1.22. 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 firm has a market cap of $283.72 million, a PE ratio of -1.04 and a beta of 5.13. 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 earnings results 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). The firm had revenue of $15.06 million for the quarter, compared to analyst estimates of $15.70 million. Soluna had a negative return on equity of 52.19% and a negative net margin of 182.16%. On average, equities analysts expect that Soluna Holdings, Inc. will post -0.41 EPS for the current year.

Institutional Trading of Soluna

Institutional investors and hedge funds have recently bought and sold shares of the business. Heights Capital Management Inc. acquired a new position in Soluna during the fourth quarter valued at approximately $2,391,000. Geode Capital Management LLC increased its position in shares of Soluna by 756.0% in the fourth quarter. Geode Capital Management LLC now owns 1,889,533 shares of the company’s stock worth $2,211,000 after acquiring an additional 1,668,801 shares in the last quarter. Ardsley Advisory Partners LP purchased a new position in shares of Soluna in the 4th quarter valued at $2,018,000. Renaissance Technologies LLC lifted its holdings 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 in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Soluna by 989.3% during the 4th quarter. Jane Street Group LLC now owns 665,649 shares of the company’s stock valued at $779,000 after acquiring an additional 604,540 shares in the last quarter. Institutional investors and hedge funds own 23.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SLNH. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Soluna in a research report on Monday, August 17th. Weiss Ratings upgraded shares of Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Finally, Zacks Research raised shares of Soluna to a “hold” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.00.

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.