Short Interest in Soluna Holdings, Inc. (NASDAQ:SLNH) Decreases By 13.3%

Soluna Holdings, Inc. (NASDAQ:SLNH) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 884,100 shares, a drop of 13.3% from the February 28th total of 1,020,000 shares. Based on an average daily trading volume, of 536,600 shares, the short-interest ratio is presently 1.6 days. Approximately 11.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLNH. State Street Corp bought a new stake in Soluna during the third quarter worth about $36,000. Virtu Financial LLC purchased a new position in shares of Soluna during the third quarter valued at approximately $36,000. SBI Securities Co. Ltd. bought a new stake in shares of Soluna in the 4th quarter worth approximately $82,000. Dimensional Fund Advisors LP grew its stake in shares of Soluna by 67.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 23,041 shares of the company’s stock worth $48,000 after buying an additional 9,264 shares during the last quarter. Finally, Arcadia Wealth Management Inc. bought a new position in Soluna during the 4th quarter valued at approximately $42,000. 23.19% of the stock is currently owned by institutional investors.

Soluna Stock Down 12.0 %

SLNH stock opened at $0.56 on Thursday. Soluna has a fifty-two week low of $0.52 and a fifty-two week high of $8.80. The company has a market capitalization of $4.65 million, a price-to-earnings ratio of -0.04 and a beta of 3.03. The business’s 50 day moving average price is $1.34 and its two-hundred day moving average price is $2.47. 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 (NASDAQ:SLNH) last issued its quarterly earnings results on Tuesday, April 1st. The company reported ($6.15) earnings per share for the quarter. The firm had revenue of $8.27 million during the quarter. Soluna had a negative return on equity of 45.29% and a negative net margin of 75.30%.

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.