Short Interest in Soluna Holdings, Inc. (NASDAQ:SLNH) Decreases By 22.9%

Soluna Holdings, Inc. (NASDAQ:SLNH) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 132,100 shares, a decrease of 22.9% from the November 15th total of 171,400 shares. Based on an average daily volume of 205,300 shares, the short-interest ratio is presently 0.6 days. Approximately 2.5% of the shares of the stock are sold short.

Insider Buying and Selling at Soluna

In related news, insider Mary Jennifer Oreilly sold 3,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $11.82, for a total transaction of $35,460.00. Following the sale, the insider now owns 17,000 shares of the company’s stock, valued at $200,940. This trade represents a 15.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jessica L. Thomas sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $11.98, for a total transaction of $39,534.00. Following the sale, 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. Over the last 90 days, insiders have sold 53,255 shares of company stock valued at $332,029. Insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On Soluna

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

Soluna Trading Down 9.2 %

SLNH traded down $0.27 during midday trading on Friday, hitting $2.68. The company’s stock had a trading volume of 479,657 shares, compared to its average volume of 237,259. Soluna has a 52-week low of $1.40 and a 52-week high of $8.80. The firm has a 50-day moving average price of $3.54 and a two-hundred day moving average price of $4.08. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The firm has a market cap of $22.44 million, a P/E ratio of -0.18 and a beta of 2.89.

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.