Soluna Holdings, Inc. (NASDAQ:SLNH) Short Interest Up 75.8% in February
by Tristan Rich · The Markets DailySoluna Holdings, Inc. (NASDAQ:SLNH – Get Free Report) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 9,137,529 shares, a growth of 75.8% from the January 29th total of 5,197,018 shares. Based on an average daily trading volume, of 7,093,407 shares, the days-to-cover ratio is presently 1.3 days. Approximately 14.9% of the shares of the stock are sold short. Approximately 14.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 7,093,407 shares, the days-to-cover ratio is presently 1.3 days.
Soluna Stock Performance
NASDAQ SLNH opened at $0.87 on Friday. Soluna has a 12-month low of $0.36 and a 12-month high of $5.14. The company has a market cap of $59.48 million, a P/E ratio of -0.10 and a beta of 4.56. The company has a fifty day simple moving average of $1.26 and a 200 day simple moving average of $1.64. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.18.
Analyst Upgrades and Downgrades
Several research firms have commented on SLNH. Weiss Ratings restated a “sell (e+)” rating on shares of Soluna in a research report on Monday, December 29th. HC Wainwright upgraded Soluna from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.00.
Read Our Latest Analysis on SLNH
Institutional Trading of Soluna
Several institutional investors have recently made changes to their positions in the company. Heights Capital Management Inc. purchased a new stake in Soluna in the 4th quarter valued at about $2,391,000. Geode Capital Management LLC grew its holdings in shares of Soluna by 756.0% in the fourth quarter. Geode Capital Management LLC now owns 1,889,533 shares of the company’s stock valued at $2,211,000 after acquiring an additional 1,668,801 shares in the last quarter. Ardsley Advisory Partners LP purchased a new stake in shares of Soluna during the fourth quarter valued at approximately $2,018,000. Jane Street Group LLC increased its position in shares of Soluna by 989.3% during the fourth quarter. Jane Street Group LLC now owns 665,649 shares of the company’s stock valued at $779,000 after acquiring an additional 604,540 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Soluna during the fourth quarter worth $299,000. Institutional investors own 23.19% of the company’s stock.
Soluna Company Profile
Soluna Computing, Inc (NASDAQ: SLNH) is a renewable energy and computing company that develops, constructs and operates utility‐scale wind and solar projects designed to power high-performance computing workloads. By integrating power generation with data processing infrastructure, Soluna targets applications such as cryptocurrency mining, blockchain validation, artificial intelligence training and other cloud‐based or on-premises computing tasks that can flex to available renewable output.
The company manages the full project lifecycle—site selection, permitting, engineering, procurement, construction and operations—with a focus on regions that offer abundant wind or solar resources yet face limitations in grid infrastructure.