Soluna (NASDAQ:SLNH) Trading Up 11.1%

Soluna Holdings, Inc. (NASDAQ:SLNHGet Free Report) shares shot up 11.1% during trading on Wednesday . The stock traded as high as $2.95 and last traded at $2.70. 21,016 shares were traded during mid-day trading, a decline of 27% from the average session volume of 28,869 shares. The stock had previously closed at $2.43.

Soluna Price Performance

The business has a 50 day moving average of $3.93 and a two-hundred day moving average of $5.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 0.52.

Soluna (NASDAQ:SLNHGet Free Report) last announced its earnings results on Monday, August 14th. The company reported ($6.75) earnings per share (EPS) for the quarter. The business had revenue of $2.07 million for the quarter. Soluna had a negative net margin of 329.54% and a negative return on equity of 91.39%.

Hedge Funds Weigh In On Soluna

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Soluna by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 393,416 shares of the company’s stock worth $673,000 after purchasing an additional 33,350 shares during the last quarter. TrinityPoint Wealth LLC grew its holdings in shares of Soluna by 1,824.9% during the first quarter. TrinityPoint Wealth LLC now owns 346,058 shares of the company’s stock valued at $93,000 after buying an additional 328,080 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Soluna by 108.3% in the 4th quarter. Renaissance Technologies LLC now owns 320,570 shares of the company’s stock valued at $84,000 after acquiring an additional 166,670 shares during the period. State Street Corp purchased a new position in Soluna in the 1st quarter worth $1,961,000. Finally, BlackRock Inc. purchased a new position in Soluna in the 1st quarter worth $795,000. Institutional investors and hedge funds own 8.23% of the company’s stock.

Soluna Company Profile

(Get Free Report)

Soluna Holdings, Inc together with its subsidiaries, engages in the mining of cryptocurrency through data centers. The company operates through two segments, Cryptocurrency Mining and Data Center Hosting. It 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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