Soluna Holdings, Inc. (NASDAQ:SLNH) Sees Significant Increase in Short Interest

Soluna Holdings, Inc. (NASDAQ:SLNH) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 87,200 shares, a growth of 21.8% from the August 31st total of 71,600 shares. Based on an average trading volume of 251,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 2.3% of the shares of the company are sold short.

Soluna Stock Performance

Soluna stock traded down $0.07 on Friday, reaching $3.39. 167,883 shares of the stock were exchanged, compared to its average volume of 245,175. The stock has a market cap of $13.29 million, a PE ratio of -0.15 and a beta of 2.95. The firm has a fifty day moving average price of $4.11 and a two-hundred day moving average price of $3.73. Soluna has a twelve month low of $1.40 and a twelve month high of $8.80. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

Soluna (NASDAQ:SLNH) last announced its 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 Investors Weigh In On Soluna

A hedge fund recently bought a new stake in Soluna stock. Coastal Bridge Advisors LLC purchased a new position in Soluna Holdings, Inc. (NASDAQ:SLNH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,000 shares of the company’s stock, valued at approximately $61,000. Coastal Bridge Advisors LLC owned about 0.26% of Soluna at the end of the most recent reporting period. Institutional investors own 23.19% of the company’s stock.

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.