The Vanguard Group, Inc. recently announced the acquisition of new stake in Soluna Holdings Inc. (NASDAQ:SLNH). The institutional investor has increased its shareholding in the Technology company by 9.37% to 0.39 million shares with purchase of 33350.0 shares. This fresh investment now brings its stake to 2.09% valued currently at $0.1 million. In addition, Renaissance Technologies LLC raised its holdings by 0.11 million to 0.15 million shares. And Geode Capital Management LLC has lifted its position by 0.61% or 419.0 shares – to 69452.0 shares.
With over 0.27 million Soluna Holdings Inc. (SLNH) shares trading Friday and a closing price of $0.46 on the day, the dollar volume was approximately $0.13 million. The shares have shown a negative half year performance of -89.55% and its price on 01/13/23 lost nearly -19.14%. Currently, there are 14.70M common shares owned by the public and among those 12.67M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SLNH have a consensus price objective of $9.60. The analysts have set the share’s price value over the next 12 months at a high of $9.60 and a low of $9.60. But an upside of 95.21% will see the stock hit the forecast high price target while median target price for the stock is $9.60.
Insiders at the company have transacted a total of 17 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 207,878 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 6,969 shares.
The top 3 mutual fund holders in Soluna Holdings Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.26 million shares of the company’s stock, all valued at over $68027.0. Fidelity Extended Market Index Fu now owns shares totaling to 0.22% of the shares outstanding.
Shares of Soluna Holdings Inc. (NASDAQ: SLNH) opened at $0.56, down -$0.01 from a prior closing price of $0.57. However, the script later moved the day high at 0.5600, down -19.14%. The company’s stock has a 5-day price change of 24.23% and -74.25% over the past three months. SLNH shares are trading 76.66% year to date (YTD), with the 12-month market performance down to -95.72% lower. It has a 12-month low price of $0.25 and touched a high of $11.92 over the same period. SLNH has an average intraday trading volume of 183.42K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 29.58%, -25.92%, and -88.56% respectively.
Institutional ownership of Soluna Holdings Inc. (NASDAQ: SLNH) shares accounts for 13.70% of the company’s 14.70M shares outstanding. Mutual fund holders own 2.62%, while other institutional holders and individual stakeholders account for 26.37% and 2.50% respectively.
It has a market capitalization of $17.69M and a beta (3y monthly) value of 2.26. The earnings-per-share (ttm) stands at -$5.76. The company has a debt-to-equity ratio at 0.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 19.31% over the week and 18.06% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.
Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”