Soluna Holdings, Inc. (NASDAQ:SLNH) Sees Large Drop in Short Interest

Soluna Holdings, Inc. (NASDAQ:SLNH) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 171,400 shares, a decrease of 25.1% from the October 31st total of 228,900 shares. Based on an average daily trading volume, of 190,100 shares, the days-to-cover ratio is presently 0.9 days. Approximately 2.7% of the company’s stock are short sold.

Insider Transactions at Soluna

In related news, insider Mary Jennifer Oreilly sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $11.82, for a total value of $35,460.00. Following the sale, the insider now owns 17,000 shares in the company, valued at $200,940. This represents a 15.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael Toporek sold 24,420 shares of Soluna stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $3.59, for a total value of $87,667.80. Following the transaction, the director now owns 30,980 shares of the company’s stock, valued at $111,218.20. The trade was a 44.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,461 shares of company stock valued at $323,946 in the last three months. 27.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Soluna

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Soluna during the 3rd quarter valued at $36,000. State Street Corp bought a new position in shares of Soluna during the third quarter valued at $36,000. Finally, Coastal Bridge Advisors LLC purchased a new stake in shares of Soluna during the second quarter valued at $61,000. Institutional investors own 23.19% of the company’s stock.

Soluna Stock Up 9.9 %

NASDAQ:SLNH traded up $0.32 on Friday, reaching $3.55. 127,463 shares of the stock traded hands, compared to its average volume of 236,479. The company’s fifty day simple moving average is $3.54 and its 200 day simple moving average is $4.03. The company has a market capitalization of $29.71 million, a price-to-earnings ratio of -0.24 and a beta of 2.93. Soluna has a 12 month low of $1.40 and a 12 month high of $8.80. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16.

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.