Insider Selling: Soluna Holdings, Inc. (NASDAQ:SLNH) Director Sells 8,741 Shares of Stock

Soluna Holdings, Inc. (NASDAQ:SLNH) Director Edward R. Hirshfield sold 8,741 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $11.76, for a total value of $102,794.16. Following the completion of the transaction, the director now owns 17,748 shares of the company’s stock, valued at $208,716.48. The trade was a 33.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Soluna Stock Performance

NASDAQ:SLNH traded down $0.06 during mid-day trading on Thursday, hitting $3.51. The stock had a trading volume of 248,202 shares, compared to its average volume of 237,904. Soluna Holdings, Inc. has a twelve month low of $1.40 and a twelve month high of $8.80. The stock has a market cap of $29.38 million, a price-to-earnings ratio of -0.24 and a beta of 2.93. The company’s 50 day simple moving average is $3.52 and its 200 day simple moving average is $4.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 0.59.

Institutional Investors Weigh In On Soluna

A number of hedge funds and other institutional investors have recently made changes to their positions in SLNH. State Street Corp bought a new position in Soluna in the third quarter valued at approximately $36,000. Virtu Financial LLC bought a new position in Soluna in the third quarter valued at approximately $36,000. Finally, Coastal Bridge Advisors LLC bought a new position in Soluna in the second quarter valued at approximately $61,000. 23.19% of the stock is currently owned by institutional investors and hedge funds.

Soluna Company Profile

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.