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

Soluna Holdings, Inc. (NASDAQ:SLNH) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 311,900 shares, an increase of 32.4% from the December 15th total of 235,600 shares. Currently, 4.8% of the company’s shares are short sold. Based on an average daily trading volume, of 236,400 shares, the days-to-cover ratio is currently 1.3 days.

Soluna Trading Up 1.8 %

NASDAQ SLNH traded up $0.04 on Friday, hitting $2.23. The company’s stock had a trading volume of 71,480 shares, compared to its average volume of 445,864. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. Soluna has a 52-week low of $1.40 and a 52-week high of $8.80. The firm has a market cap of $18.66 million, a P/E ratio of -0.15 and a beta of 2.99. The company’s 50-day simple moving average is $2.86 and its 200 day simple moving average is $3.76.

Insider Buying and Selling

In other Soluna news, Director Michael Toporek sold 11,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $3.23, for a total value of $35,530.00. Following the sale, the director now owns 79,100 shares of the company’s stock, valued at $255,493. This trade represents a 12.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward R. Hirshfield sold 8,741 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $11.76, for a total transaction of $102,794.16. Following the transaction, the director now directly owns 17,748 shares of the company’s stock, valued at approximately $208,716.48. This trade represents a 33.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,255 shares of company stock valued at $332,029 over the last three months. 27.30% of the stock is owned by company insiders.

Institutional Trading of Soluna

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLNH. State Street Corp bought a new position in Soluna in the 3rd quarter worth $36,000. Virtu Financial LLC purchased a new position in shares of Soluna during the third quarter valued at about $36,000. Finally, Coastal Bridge Advisors LLC bought a new position in Soluna in the second quarter worth about $61,000. Hedge funds and other 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.