Short Interest in Soluna Holdings, Inc. (NASDAQ:SLNH) Decreases By 57.9%

Posted by Anthony Miller on Sep 16th, 2024

Soluna Holdings, Inc. (NASDAQ:SLNH – Get Free Report) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 71,600 shares, a decrease of 57.9% from the August 15th total of 169,900 shares. Based on an average trading volume of 267,300 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.9% of the company’s shares are sold short.

Institutional Investors Weigh In On Soluna

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

Soluna Trading Up 9.1 %

Shares of SLNH traded up $0.26 during trading hours on Friday, hitting $3.13. 127,609 shares of the stock traded hands, compared to its average volume of 246,364. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Soluna has a 1-year low of $1.40 and a 1-year high of $8.80. The firm has a market capitalization of $12.27 million, a PE ratio of -0.13 and a beta of 2.95. The business has a fifty day moving average of $4.70 and a 200-day moving average of $3.78.

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

Soluna Company Profile

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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.