Soluna (NASDAQ:SLNH) Lowered to “Sell” Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Soluna (NASDAQ:SLNH – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of Soluna in a research report on Monday, August 17th. Rosenblatt Securities assumed coverage on shares of Soluna in a research report on Thursday. They issued a “buy” rating and a $4.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Soluna in a research note on Wednesday, September 9th. Finally, Zacks Research upgraded shares of Soluna to a “hold” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Read Our Latest Analysis on SLNH

Soluna Stock Performance

Shares of NASDAQ SLNH opened at $1.26 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.06 and a quick ratio of 2.06. Soluna has a one year low of $0.59 and a one year high of $5.14. The business’s 50-day moving average price is $1.20 and its two-hundred day moving average price is $1.24. The company has a market capitalization of $310.84 million, a P/E ratio of -1.12 and a beta of 5.07.

Soluna (NASDAQ:SLNH – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The firm had revenue of $15.06 million for the quarter, compared to analyst estimates of $15.70 million. Soluna had a negative net margin of 182.16% and a negative return on equity of 52.19%. Analysts anticipate that Soluna will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Azora Capital LP lifted its holdings in Soluna by 97.7% in the 4th quarter. Azora Capital LP now owns 29,369 shares of the company’s stock worth $34,000 after purchasing an additional 14,513 shares during the last quarter. Avaii Wealth Management LLC acquired a new position in Soluna during the second quarter valued at approximately $25,000. OMERS ADMINISTRATION Corp raised its position in shares of Soluna by 55.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 107,100 shares of the company’s stock valued at $76,000 after purchasing an additional 38,100 shares during the period. RFG Advisory LLC bought a new position in shares of Soluna in the second quarter valued at approximately $135,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Soluna in the second quarter valued at approximately $353,000. 23.19% of the stock is owned by institutional investors.

About Soluna

(Get Free Report)

Soluna Holdings, Inc, doing business as Soluna, develops and operates data centers designed to use excess renewable energy for high-performance computing. The company’s facilities support applications including cryptocurrency mining, artificial intelligence and other compute-intensive workloads, helping renewable power producers monetize electricity that might otherwise be curtailed.

Soluna’s business includes the development, construction and operation of modular data centers, as well as computing services for customers and its own digital-asset mining activities.

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