Soluna Holdings, Inc. (NASDAQ:SLNH) Sees Significant Growth in Short Interest

Soluna Holdings, Inc. (NASDAQ:SLNH) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 216,200 shares, a growth of 285.4% from the June 15th total of 56,100 shares. Based on an average daily trading volume, of 449,100 shares, the short-interest ratio is presently 0.5 days. Approximately 7.8% of the company’s shares are short sold.

Soluna Price Performance

Shares of NASDAQ SLNH opened at $5.18 on Friday. The company’s 50 day simple moving average is $3.89 and its 200 day simple moving average is $3.39. Soluna has a fifty-two week low of $1.40 and a fifty-two week high of $9.75. The firm has a market capitalization of $20.31 million, a P/E ratio of -0.23 and a beta of 2.96.

Soluna (NASDAQ:SLNH) last posted its earnings results on Wednesday, May 15th. The company reported ($2.62) earnings per share for the quarter. The firm had revenue of $12.55 million during the quarter. Soluna had a negative return on equity of 44.38% and a negative net margin of 89.72%.

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.