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

Soluna Holdings, Inc. (NASDAQ:SLNH) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 311,900 shares, an increase of 32.4% from the December 15th total of 235,600 shares. Approximately 4.8% of the company’s shares are sold short. Based on an average trading volume of 236,400 shares, the short-interest ratio is presently 1.3 days.

Soluna Trading Up 0.9 %

SLNH traded up $0.02 on Friday, hitting $2.21. The company had a trading volume of 634,790 shares, compared to its average volume of 243,083. The business’s fifty day simple moving average is $2.83 and its 200 day simple moving average is $3.74. Soluna has a 12-month low of $1.40 and a 12-month high of $8.80. The company has a market cap of $18.50 million, a PE ratio of -0.15 and a beta of 2.99. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.16.

Insider Activity at Soluna

In other news, CAO Jessica L. Thomas sold 3,300 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $11.98, for a total value of $39,534.00. Following the completion of the sale, the chief accounting officer now directly owns 6,700 shares of the company’s stock, valued at $80,266. This represents a 33.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Toporek sold 24,420 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $3.59, for a total value of $87,667.80. Following the completion of the transaction, the director now owns 30,980 shares in the company, valued at $111,218.20. The trade was a 44.08 % 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 worth $332,029 over the last quarter. Corporate insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On Soluna

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLNH. State Street Corp purchased a new position in shares of Soluna during the third quarter valued at $36,000. Virtu Financial LLC bought a new position in Soluna during the 3rd quarter worth about $36,000. Finally, Coastal Bridge Advisors LLC purchased a new position in Soluna during the 2nd quarter valued at about $61,000. Institutional investors 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.