Renaissance Technologies LLC Acquires 579,335 Shares of Soluna Holdings, Inc. $SLNH

Renaissance Technologies LLC increased its holdings in Soluna Holdings, Inc. (NASDAQ:SLNH) by 226.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 835,277 shares of the company’s stock after acquiring an additional 579,335 shares during the period. Renaissance Technologies LLC owned about 0.59% of Soluna worth $590,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Ardsley Advisory Partners LP bought a new stake in Soluna during the 4th quarter worth approximately $2,018,000. Azora Capital LP raised its stake in shares of Soluna by 97.7% in the fourth quarter. Azora Capital LP now owns 29,369 shares of the company’s stock worth $34,000 after purchasing an additional 14,513 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Soluna in the fourth quarter valued at approximately $30,000. Scientech Research LLC bought a new position in shares of Soluna in the third quarter valued at approximately $31,000. Finally, Heights Capital Management Inc. purchased a new position in shares of Soluna during the fourth quarter valued at approximately $2,391,000. Institutional investors own 23.19% of the company’s stock.

Insider Buying and Selling at Soluna

In related news, CFO Michael Picchi purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average cost of $1.63 per share, with a total value of $163,000.00. Following the acquisition, the chief financial officer owned 1,381,250 shares of the company’s stock, valued at $2,251,437.50. This represents a 7.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.10% of the company’s stock.

Soluna Stock Performance

Shares of Soluna stock opened at $1.31 on Monday. The business’s fifty day simple moving average is $1.33 and its 200 day simple moving average is $1.21. The firm has a market capitalization of $206.65 million, a P/E ratio of -0.80 and a beta of 5.13. Soluna Holdings, Inc. has a 12 month low of $0.41 and a 12 month high of $5.14. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02.

Soluna (NASDAQ:SLNH) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). Soluna had a negative net margin of 182.16% and a negative return on equity of 52.19%. The business had revenue of $15.06 million during the quarter, compared to the consensus estimate of $15.70 million. As a group, analysts anticipate that Soluna Holdings, Inc. will post -0.45 EPS for the current year.

Analyst Ratings Changes

SLNH has been the subject of several recent research reports. Weiss Ratings upgraded Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. HC Wainwright assumed coverage on Soluna in a research note on Monday, July 20th. They set a “buy” rating and a $4.00 price objective on the stock. Zacks Research upgraded Soluna to a “hold” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Soluna from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.00.

Soluna Company Profile

Soluna Computing, Inc (NASDAQ: SLNH) is a renewable energy and computing company that develops, constructs and operates utility‐scale wind and solar projects designed to power high-performance computing workloads. By integrating power generation with data processing infrastructure, Soluna targets applications such as cryptocurrency mining, blockchain validation, artificial intelligence training and other cloud‐based or on-premises computing tasks that can flex to available renewable output.

The company manages the full project lifecycle—site selection, permitting, engineering, procurement, construction and operations—with a focus on regions that offer abundant wind or solar resources yet face limitations in grid infrastructure.