Soluna Holdings, Inc. (NASDAQ:SLNH) Short Interest Down 57.9% in August

Soluna Holdings, Inc. (NASDAQ:SLNH) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 71,600 shares, a drop of 57.9% from the August 15th total of 169,900 shares. Based on an average daily volume of 267,300 shares, the short-interest ratio is presently 0.3 days. Approximately 1.9% of the shares of the stock are short sold.

Soluna Price Performance

Shares of SLNH traded up $0.26 during mid-day trading on Friday, reaching $3.13. 127,609 shares of the stock traded hands, compared to its average volume of 246,364. The company has a market cap of $18.03 million, a price-to-earnings ratio of -0.13 and a beta of 2.95. Soluna has a 1 year low of $1.40 and a 1 year high of $8.80. The firm has a fifty day moving average price of $4.70 and a 200 day moving average price of $3.78. 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 posted its earnings results on Wednesday, August 14th. The company reported ($1.74) EPS for the quarter. The business had revenue of $9.68 million for the quarter. Soluna had a negative return on equity of 43.44% and a negative net margin of 77.32%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Soluna stock. Coastal Bridge Advisors LLC bought a new stake in shares of Soluna Holdings, Inc. (NASDAQ:SLNH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 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 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.