Soluna Holdings, Inc. (NASDAQ:SLNH) Short Interest Up 21.8% in September

Soluna Holdings, Inc. (NASDAQ:SLNH) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 87,200 shares, an increase of 21.8% from the August 31st total of 71,600 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average trading volume of 251,000 shares, the short-interest ratio is presently 0.3 days.

Soluna Trading Down 2.0 %

Shares of SLNH stock traded down $0.07 during trading hours on Friday, reaching $3.39. 167,883 shares of the stock traded hands, compared to its average volume of 245,175. The business has a fifty day moving average price of $4.11 and a 200 day moving average price of $3.73. Soluna has a 1-year low of $1.40 and a 1-year high of $8.80. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $13.29 million, a PE ratio of -0.15 and a beta of 2.95.

Soluna (NASDAQ:SLNH) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($1.74) earnings per share for the quarter. The business had revenue of $9.68 million for the quarter. Soluna had a negative net margin of 77.32% and a negative return on equity of 43.44%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Soluna stock. Coastal Bridge Advisors LLC acquired a new position in Soluna Holdings, Inc. (NASDAQ:SLNH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $61,000. Coastal Bridge Advisors LLC owned approximately 0.26% of Soluna at the end of the most recent quarter. 23.19% of the stock is owned by hedge funds and other institutional investors.

About Soluna

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.