Short Interest in Soluna Holdings, Inc. (NASDAQ:SLNH) Increases By 32.4%

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

Soluna Price Performance

SLNH traded up $0.09 during midday trading on Thursday, hitting $2.19. The stock had a trading volume of 311,025 shares, compared to its average volume of 485,952. The company has a market cap of $18.33 million, a P/E ratio of -0.15 and a beta of 2.99. Soluna has a 1 year low of $1.40 and a 1 year high of $8.80. The business has a fifty day moving average of $2.89 and a 200 day moving average of $3.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 0.59.

Insiders Place Their Bets

In other Soluna news, insider Mary Jennifer Oreilly sold 3,000 shares of Soluna stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $11.82, for a total transaction of $35,460.00. Following the completion of the sale, the insider now owns 17,000 shares of the company’s stock, valued at $200,940. The trade was a 15.00 % 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 11,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $3.23, for a total value of $35,530.00. Following the transaction, the director now owns 79,100 shares in the company, valued at $255,493. This trade represents a 12.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,255 shares of company stock worth $332,029 in the last ninety days. 27.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Soluna

A number of institutional investors have recently made changes to their positions in the business. State Street Corp bought a new stake in Soluna in the third quarter worth $36,000. Virtu Financial LLC bought a new position in Soluna during the 3rd quarter worth approximately $36,000. Finally, Coastal Bridge Advisors LLC purchased a new position in Soluna in the 2nd quarter worth approximately $61,000. Hedge funds and other 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.