Soluna Holdings, Inc. (NASDAQ:SLNH) Short Interest Up 21.8% in September

Soluna Holdings, Inc. (NASDAQ:SLNH) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 87,200 shares, a growth of 21.8% from the August 31st total of 71,600 shares. Based on an average daily volume of 251,000 shares, the short-interest ratio is currently 0.3 days. Approximately 2.3% of the company’s shares are short sold.

Institutional Investors Weigh In On Soluna

An institutional investor recently bought a new position in Soluna stock. Coastal Bridge Advisors LLC bought a new stake in shares of Soluna Holdings, Inc. (NASDAQ:SLNH) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $61,000. Coastal Bridge Advisors LLC owned approximately 0.26% of Soluna as of its most recent SEC filing. Institutional investors and hedge funds own 23.19% of the company’s stock.

Soluna Stock Down 2.0 %

Shares of NASDAQ SLNH opened at $3.39 on Monday. The company has a market cap of $13.29 million, a price-to-earnings ratio of -0.15 and a beta of 2.95. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm’s fifty day moving average is $4.11 and its 200 day moving average is $3.73. Soluna has a 52 week low of $1.40 and a 52 week high of $8.80.

Soluna (NASDAQ:SLNH) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($1.74) earnings per share (EPS) for the quarter. The firm had revenue of $9.68 million during the quarter. Soluna had a negative net margin of 77.32% and a negative return on equity of 43.44%.

About Soluna

Soluna Holdings, Inc together with its subsidiaries, engages in the mining of cryptocurrency through data centers. It operates through two segments, Cryptocurrency Mining and Data Center Hosting. The company also operates in the blockchain business. In addition, the company develops and builds modular data centers that use for cryptocurrency mining.