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

Soluna Holdings, Inc. (NASDAQ:SLNH) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 132,100 shares, a decline of 22.9% from the November 15th total of 171,400 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average trading volume of 205,300 shares, the days-to-cover ratio is presently 0.6 days.

Soluna Stock Performance

SLNH traded down $0.27 during trading hours on Friday, hitting $2.68. 479,657 shares of the stock were exchanged, compared to its average volume of 237,259. The stock has a 50-day simple moving average of $3.54 and a 200-day simple moving average of $4.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.59 and a quick ratio of 0.59. Soluna has a 12 month low of $1.40 and a 12 month high of $8.80. The stock has a market cap of $22.44 million, a price-to-earnings ratio of -0.18 and a beta of 2.89.

Insider Buying and Selling

In other Soluna news, Director Edward R. Hirshfield sold 8,741 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $11.76, for a total transaction of $102,794.16. Following the completion of the transaction, the director now directly owns 17,748 shares of the company’s stock, valued at $208,716.48. This trade represents a 33.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Toporek sold 11,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $3.23, for a total transaction of $35,530.00. Following the completion of the sale, the director now directly owns 79,100 shares of the company’s stock, valued at $255,493. The trade was a 12.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,255 shares of company stock worth $332,029. 27.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Soluna

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

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.