H.C. Wainwright analyst Kevin Dede has maintained their neutral stance on SLNH stock, giving a Hold rating on August 15.
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Kevin Dede has given his Hold rating due to a combination of factors including the ongoing developments and future potential of Soluna Holdings. The company has shown progress with its projects, such as the energization of Dorothy 2 and the construction plans for Kati 1, which are expected to drive revenue growth. However, the full impact of these projects will not be realized until they are fully operational, with Dorothy 2 expected to be completed by the end of 2025 and Kati 1 in early 2026.
Despite the positive developments, there are uncertainties that warrant a cautious approach. The adjustments in sales estimates for FY25 and FY26 reflect a conservative outlook on power expansion and bitcoin price assumptions. While the company is evolving and showing promise, the current stock price and the need for more clarity on project timelines and financial outcomes justify maintaining a Hold rating at this time.
Dede covers the Technology sector, focusing on stocks such as CoreWeave, Applied Digital Corporation, and Tokens.com Corp. According to TipRanks, Dede has an average return of 10.0% and a 42.14% success rate on recommended stocks.
In another report released on August 15, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $0.50 price target.