Insider Selling: Soluna Holdings, Inc. (NASDAQ:SLNH) Director Sells 8,000 Shares of Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) Director Michael Toporek sold 8,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $3.44, for a total value of $27,520.00. Following the sale, the director now owns 142,000 shares of the company’s stock, valued at approximately $488,480. This represents a 5.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Soluna Stock Performance

Shares of SLNH stock opened at $0.89 on Monday. Soluna Holdings, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $8.80. The stock’s 50-day moving average is $1.43 and its two-hundred day moving average is $2.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $7.49 million, a P/E ratio of -0.06 and a beta of 3.03.

Hedge Funds Weigh In On Soluna

A number of hedge funds have recently added to or reduced their stakes in SLNH. SBI Securities Co. Ltd. bought a new stake in Soluna in the fourth quarter worth approximately $82,000. Dimensional Fund Advisors LP boosted its holdings in Soluna by 67.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 23,041 shares of the company’s stock worth $48,000 after purchasing an additional 9,264 shares in the last quarter. Arcadia Wealth Management Inc. acquired a new position in Soluna during the fourth quarter worth $42,000. State Street Corp acquired a new position in Soluna during the third quarter worth $36,000. Finally, Virtu Financial LLC bought a new position in Soluna during the third quarter valued at about $36,000. Institutional investors and hedge funds 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.