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

Soluna Holdings, Inc. (NASDAQ:SLNH) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 235,600 shares, an increase of 78.3% from the November 30th total of 132,100 shares. Based on an average trading volume of 222,600 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.6% of the shares of the company are sold short.

Insider Buying and Selling at Soluna

In other Soluna news, Director Edward R. Hirshfield sold 8,741 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $11.76, for a total value of $102,794.16. Following the completion of the sale, the director now owns 17,748 shares of the company’s stock, valued at $208,716.48. The trade was a 33.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jessica L. Thomas sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $11.98, for a total transaction of $39,534.00. Following the transaction, the chief accounting officer now directly owns 6,700 shares in the company, valued at $80,266. This represents a 33.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,255 shares of company stock valued at $332,029 in the last three months. 27.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Soluna

A number of institutional investors have recently added to or reduced their stakes in the stock. Coastal Bridge Advisors LLC bought a new stake in shares of Soluna during the second quarter worth $61,000. Virtu Financial LLC acquired a new stake in shares of Soluna during the 3rd quarter valued at $36,000. Finally, State Street Corp bought a new stake in Soluna during the 3rd quarter worth $36,000. 23.19% of the stock is currently owned by institutional investors and hedge funds.

Soluna Price Performance

Shares of Soluna stock traded down $0.08 on Friday, reaching $2.23. 103,834 shares of the stock were exchanged, compared to its average volume of 239,205. The firm’s 50 day moving average is $3.35 and its 200-day moving average is $4.06. The firm has a market cap of $18.67 million, a PE ratio of -0.15 and a beta of 2.89. 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 has a one year low of $1.40 and a one year high of $8.80.

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.