Soluna (NASDAQ:SLNH) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Soluna (NASDAQ:SLNH – Free Report) from a sell rating to a hold rating in a report released on Saturday morning.

Separately, HC Wainwright began coverage on Soluna in a report on Wednesday, July 23rd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Soluna has an average rating of “Hold”.

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Soluna Trading Up 29.8%

SLNH opened at $0.93 on Friday. The business has a fifty day moving average price of $0.59 and a 200 day moving average price of $0.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.35 and a quick ratio of 0.35. Soluna has a 12 month low of $0.36 and a 12 month high of $4.78. The stock has a market capitalization of $28.04 million, a price-to-earnings ratio of -0.10 and a beta of 3.47.

Soluna (NASDAQ:SLNH – Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.07. Soluna had a negative return on equity of 183.79% and a negative net margin of 222.81%.The company had revenue of $6.16 million for the quarter, compared to the consensus estimate of $8.10 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. boosted its position in shares of Soluna by 118.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 64,766 shares of the company’s stock worth $37,000 after acquiring an additional 35,167 shares in the last quarter. Arcadia Wealth Management Inc. acquired a new stake in shares of Soluna in the 4th quarter valued at about $42,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Soluna by 67.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 23,041 shares of the company’s stock valued at $48,000 after purchasing an additional 9,264 shares during the period. 23.19% of the stock is owned by institutional investors and hedge funds.

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.

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