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Matthew E. Lipman, a director at Soluna Holdings, Inc. (NASDAQ:SLNH), recently sold a significant portion of the company’s common stock. According to a Form 4 filing with the Securities and Exchange Commission, Lipman sold shares totaling $197,693. The transactions occurred over three days: October 31, November 1, and November 4, 2024. The sales come amid challenging market conditions for SLNH, with the stock down over 70% in the past six months and currently trading near its 52-week low of $0.85.
The sales involved 8,000 shares at $3.44 per share on October 31, 31,300 shares at $3.39 per share on November 1, and 20,600 shares at $3.11 per share on November 4. These transactions were executed automatically under a Rule 10b5-1 trading plan adopted by Brookstone Partners Acquisition XXIV, LLC, where Lipman is a Managing General Partner. InvestingPro analysis indicates the stock is currently undervalued, with 12 additional key insights available for subscribers, including detailed financial health metrics and volatility indicators.
Following these sales, Lipman holds 81,872 shares directly. The sales were reported late due to an oversight, as noted in the filing. The company’s current market capitalization stands at $7.52 million, with a concerning current ratio of 0.59, indicating potential liquidity challenges.
In other recent news, Soluna Holdings, Inc. announced several significant developments aimed at expanding its data center capabilities. The company has completed the ERCOT planning phase for Project Kati, which is set to provide up to 166 megawatts of power, and secured a land purchase for Project Rosa, promising up to 187 megawatts of renewable energy. Additionally, Soluna expanded its partnership with Bit Digital, increasing its hosting capacity beyond 12 megawatts. Soluna’s subsidiary, Soluna Cloud, is also supporting the North American launch of Atlas (NYSE:ATCO) Cloud’s DeepSeek R1, an AI inferencing platform utilizing 128 NVIDIA (NASDAQ:NVDA) H100 SXM Infiniband GPUs. This collaboration aims to offer high-performance AI solutions while addressing data sovereignty and latency issues. Soluna Holdings recently hosted an "Ask Me Anything" session with its management team, providing insights into the company’s operations and future plans. Moreover, Soluna’s partnership with Luxor Technology Corporation has significantly enhanced BitMine’s mining efficiency, more than tripling its ASIC fleet’s hashrate. These developments underscore Soluna’s commitment to leveraging renewable energy for high-performance computing applications.
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