Short Interest in Soluna Holdings, Inc. (NASDAQ:SLNH) Declines By 25.1%

Soluna Holdings, Inc. (NASDAQ:SLNH) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 171,400 shares, a drop of 25.1% from the October 31st total of 228,900 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 190,100 shares, the days-to-cover ratio is presently 0.9 days.

Soluna Stock Up 5.9 %

NASDAQ SLNH traded up $0.19 on Friday, reaching $3.42. The company had a trading volume of 144,829 shares, compared to its average volume of 236,585. The stock has a market capitalization of $28.63 million, a P/E ratio of -0.23 and a beta of 2.93. The company’s fifty day moving average is $3.55 and its 200 day moving average is $4.03. Soluna has a 52-week low of $1.40 and a 52-week high of $8.80. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.16.

Insider Activity at Soluna

In related news, Director Michael Toporek sold 24,420 shares of Soluna stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $3.59, for a total value of $87,667.80. Following the completion of the sale, the director now owns 30,980 shares of the company’s stock, valued at approximately $111,218.20. This trade represents a 44.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jessica L. Thomas sold 3,300 shares of Soluna stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $11.98, for a total transaction of $39,534.00. Following the completion of the sale, the chief accounting officer now directly owns 6,700 shares of the company’s stock, valued at approximately $80,266. The trade was a 33.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,461 shares of company stock valued at $323,946. 27.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Soluna

Institutional investors and hedge funds have recently bought and sold shares of the stock. Coastal Bridge Advisors LLC purchased a new stake in Soluna in the 2nd quarter valued at $61,000. State Street Corp purchased a new stake in Soluna in the 3rd quarter valued at $36,000. Finally, Virtu Financial LLC purchased a new position in Soluna in the third quarter worth $36,000. 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.