Short Interest in Soluna Holdings, Inc. (NASDAQ:SLNH) Drops By 25.1%

Soluna Holdings, Inc. (NASDAQ:SLNH) was the recipient of a significant drop in short interest in November. As of November 15th, there was short interest totalling 171,400 shares, a drop of 25.1% from the October 31st total of 228,900 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 190,100 shares, the short-interest ratio is currently 0.9 days.

Insider Buying and Selling at Soluna

In other Soluna news, Director Michael Toporek sold 11,000 shares of Soluna stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $3.23, for a total transaction of $35,530.00. Following the transaction, the director now directly owns 79,100 shares of the company’s stock, valued at approximately $255,493. The trade was a 12.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mary Jennifer Oreilly sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $11.82, for a total value of $35,460.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 52,461 shares of company stock worth $323,946 over the last quarter. Corporate insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp purchased a new position in shares of Soluna in the 3rd quarter worth about $36,000. Virtu Financial LLC bought a new stake in Soluna in the 3rd quarter worth approximately $36,000. Finally, Coastal Bridge Advisors LLC bought a new position in Soluna during the second quarter valued at approximately $61,000. Institutional investors own 23.19% of the company’s stock.

Soluna Trading Up 5.9 %

Shares of NASDAQ SLNH traded up $0.19 during midday trading on Friday, reaching $3.42. The stock had a trading volume of 144,829 shares, compared to its average volume of 237,470. The company’s 50 day moving average price is $3.55 and its 200 day moving average price is $4.03. The firm has a market cap of $28.63 million, a price-to-earnings ratio of -0.23 and a beta of 2.93. Soluna has a twelve month low of $1.40 and a twelve month high of $8.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 0.59.

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.