Soluna Holdings, Inc. (NASDAQ:SLNH) Short Interest Down 25.1% in November

Soluna Holdings, Inc. (NASDAQ:SLNH) saw a large drop in short interest in 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. Based on an average daily trading volume, of 190,100 shares, the short-interest ratio is currently 0.9 days. Approximately 2.7% of the company’s stock are sold short.

Insider Activity at Soluna

In other news, insider Mary Jennifer Oreilly sold 3,000 shares of Soluna stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $11.82, for a total value of $35,460.00. Following the completion of the sale, the insider now directly owns 17,000 shares in the company, valued at $200,940. The trade was a 15.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Toporek sold 24,420 shares of the 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 transaction, the director now directly owns 30,980 shares in the company, valued at $111,218.20. The trade was a 44.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,461 shares of company stock valued at $323,946 in the last 90 days. Corporate insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Coastal Bridge Advisors LLC bought a new stake in shares of Soluna in the second quarter worth about $61,000. Virtu Financial LLC purchased a new position in shares of Soluna during the third quarter valued at approximately $36,000. Finally, State Street Corp bought a new position in shares of Soluna in the third quarter worth about $36,000. 23.19% of the stock is owned by hedge funds and other institutional investors.

Soluna Stock Performance

Shares of NASDAQ:SLNH traded up $0.19 during mid-day trading on Friday, reaching $3.42. 144,829 shares of the company traded hands, compared to its average volume of 237,470. The firm has a market cap of $28.63 million, a PE ratio of -0.23 and a beta of 2.93. Soluna has a 52 week low of $1.40 and a 52 week high of $8.80. The company’s 50 day moving average price is $3.55 and its 200-day moving average price is $4.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.59 and a quick ratio of 0.59.

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.