Soluna Holdings, Inc. (NASDAQ:SLNH) Short Interest Update

Soluna Holdings, Inc. (NASDAQ:SLNH) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 884,100 shares, a decline of 13.3% from the February 28th total of 1,020,000 shares. Based on an average daily volume of 536,600 shares, the short-interest ratio is currently 1.6 days. Currently, 11.6% of the shares of the stock are short sold.

Soluna Price Performance

Shares of SLNH traded down $0.06 during mid-day trading on Wednesday, hitting $0.57. 318,579 shares of the company were exchanged, compared to its average volume of 359,960. The stock has a market cap of $4.76 million, a price-to-earnings ratio of -0.04 and a beta of 3.03. Soluna has a 1-year low of $0.52 and a 1-year high of $8.80. The company has a 50 day moving average of $1.37 and a 200-day moving average of $2.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 0.59.

Soluna (NASDAQ:SLNH) last announced its earnings results on Tuesday, April 1st. The company reported ($6.15) EPS for the quarter. The firm had revenue of $8.27 million for the quarter. Soluna had a negative net margin of 75.30% and a negative return on equity of 45.29%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp purchased a new stake in shares of Soluna during the third quarter worth $36,000. SBI Securities Co. Ltd. purchased a new position in shares of Soluna in the fourth quarter worth about $82,000. Virtu Financial LLC acquired a new position in Soluna during the third quarter worth about $36,000. Arcadia Wealth Management Inc. purchased a new stake in Soluna during the 4th quarter valued at about $42,000. Finally, Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 9,264 shares during the last quarter. 23.19% of the stock is owned by institutional investors and hedge funds.

Soluna Company Profile

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.