Prepare Yourself for Liftoff: Soluna Holdings Inc. (SLNH)

Soluna Holdings Inc. (NASDAQ: SLNH) stock jumped 2.02% on Monday to $0.52 against a previous-day closing price of $0.51. With 5.44 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.2 million shares. During the session, the Information Technology Services company that operates in wider Technology sector, reached to the highest price of $0.7653 whereas the lowest price it dropped to was $0.4401. The 52-week range on SLNH shows that it touched its highest point at $11.92 and its lowest point at $0.25 during that stretch. Beta for the stock currently stands at 2.26.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SLNH was up-trending over the past week, with a rise of 12.82%, but this was up by 67.69% over a month. Three-month performance dropped to -72.04% while six-month performance fell -88.72%. The stock lost -94.54% in the past year, while it has gained 99.31% so far this year.

Float and Shares Shorts:

At present, 14.70 million SLNH shares are outstanding with a float of 12.67 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.28 million, which was 1.82% higher than short shares on Sep 14, 2022. In addition to Mr. Michael M. Toporek as the firm’s CEO & Director, Mr. Philip Franklin Patman Jr., J.D. serves as its CFO, Company Sec. & Treasurer.

Institutional Ownership:

Through their ownership of 15.20% of SLNH’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 26.37% of SLNH, in contrast to 2.62% held by mutual funds. Shares owned by individuals account for 2.50%. As the largest shareholder in SLNH with 2.09% of the stake, The Vanguard Group, Inc. holds 389,234 shares worth 389,234. A second-largest stockholder of SLNH, Renaissance Technologies LLC, holds 153,900 shares, controlling over 0.83% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in SLNH, holding 69,765 shares or 0.37% stake. With a 1.40% stake in SLNH, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 260,638 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.64% of SLNH stock, is the second-largest Mutual Fund holder. It holds 118,915 shares valued at 31037.0. Fidelity Extended Market Index Fu holds 0.22% of the stake in SLNH, owning 40,128 shares worth 10473.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SLNH since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SLNH analysts setting a high price target of $9.60 and a low target of $9.60, the average target price over the next 12 months is $9.60. Based on these targets, SLNH could surge 1746.15% to reach the target high and rise by 1746.15% to reach the target low. Reaching the average price target will result in a growth of 1746.15% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SLNH will report FY 2009 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.65 being high and -$0.65 being low. For SLNH, this leads to a yearly average estimate of -$0.65. Based on analyst estimates, the high estimate for the next quarter is -$0.11 and the low estimate is -$0.11. The average estimate for the next quarter is thus -$0.11.

Summary of Insider Activity:

Insiders traded SLNH stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 22,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 207,878 while 6,969 shares were sold.

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