Soluna Holdings, Inc. (NASDAQ:SLNH) Short Interest Up 32.4% in December

Soluna Holdings, Inc. (NASDAQ:SLNH) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 311,900 shares, an increase of 32.4% from the December 15th total of 235,600 shares. Based on an average trading volume of 236,400 shares, the days-to-cover ratio is currently 1.3 days. Approximately 4.8% of the shares of the company are sold short.

Soluna Trading Up 0.9 %

Soluna stock traded up $0.02 during trading hours on Friday, reaching $2.21. 634,790 shares of the company’s stock were exchanged, compared to its average volume of 243,083. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $18.50 million, a PE ratio of -0.15 and a beta of 2.99. The firm’s 50 day simple moving average is $2.83 and its 200 day simple moving average is $3.74. Soluna has a twelve month low of $1.40 and a twelve month high of $8.80.

Insider Buying and Selling at Soluna

In other Soluna news, Director Edward R. Hirshfield sold 8,741 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $11.76, for a total transaction of $102,794.16. Following the completion of the sale, the director now directly owns 17,748 shares in the company, valued at $208,716.48. This represents a 33.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jessica L. Thomas sold 3,300 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $11.98, for a total transaction of $39,534.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,700 shares of the company’s stock, valued at $80,266. This trade represents a 33.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,255 shares of company stock valued at $332,029 in the last three months. 27.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Soluna

Several hedge funds have recently modified their holdings of SLNH. State Street Corp bought a new stake in Soluna in the third quarter worth about $36,000. Virtu Financial LLC purchased a new stake in shares of Soluna during the 3rd quarter worth approximately $36,000. Finally, Coastal Bridge Advisors LLC bought a new stake in shares of Soluna in the 2nd quarter worth approximately $61,000. Institutional investors 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.