Event-Driven Stocks

Soluna Holdings, Inc

SLNHNasdaq

Financials · Finance Services · NV · SEC filings ↗ · Compare ⊕

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Signs● 2 good● 4 warning● 1 severedetails ↓

Financials

SEC XBRL · annual
 FY25FY24FY23FY22FY21FY20
Revenue$29.7M$38.0M$21.1M$28.5M$14.3M$595,000
Operating income−$33.7M−$47.5M−$20.2M−$84.8M−$4.5M−$1.6M
Net income−$53.4M−$63.3M−$29.2M−$98.7M−$5.3M$1.9M
Total assets$187.9M$88.0M$91.3M$85.0M$117.7M$8.6M
Total liabilities$75.7M$60.7M$37.9M$38.7M$26.7M$2.7M
Equity$53.5M−$12.5M$26.5M$41.9M$91.0M$5.9M
EPS (diluted)$-1.21$-12.15$-27.79$-174.41$-0.50$0.20
Shares out.12.5M2.8M24.7M13.9M9.8M10.8M

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2025
Operating margin
−113.3%
Net margin
−179.7%
Return on equity
−99.7%
Return on assets
−28.4%
Return on capital (ROCE)
−24.3%
Liabilities / assets
40.3%
Debt / equity
1.41×
Book value / share
$4.29
Revenue growth (YoY)
−21.8%
Net income growth (YoY)
—

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2025
Altman Z″ (distress)
-5.34distress
Accruals / assets
−23.6%clean
Beneish M-Score
-2.42normal
Piotroski F-Score
5/9mixed

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
35
/ 100
Profitability 0Growth 0Catalyst 33Earnings quality 67Financial strength 75

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.

Signs

● 1 severe● 4 warning● 2 good
  • Altman Z″ in the distress zone
  • Operating losses (negative operating margin)
  • Reported a net loss
  • Revenue declined year-over-year
  • Negative operating cash flow
  • Conservative leverage (liabilities < 50% of assets)
  • Clean earnings (low accruals)

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

5%+ owners

SEC Schedule 13D / 13G · last 3 yrs

Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.

Short interest

FINRA · bi-monthly
SettlementShares shortDays to coverΔ vs prior
May 15, 202624.4M1.0+13.4%
Apr 30, 202621.5M1.0+18.3%
Apr 15, 202618.2M4.7+14.9%
Mar 31, 202615.8M7.1+5.4%
Mar 13, 202615.0M4.6+22.5%

Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (1)

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