RankAlpha logo
Back to Rankings

SLNH

SolunaC
Nasdaq / Software & Services
Last Price
Quote time unavailable
View Chart
Current thesis
The Kati 2 tenant LOI, Metrobloks joint venture and Dorothy power position could become contracted AI capacity. Q2 revenue grew 145% year over year, although 73% excluding a gross-presentation change for pass-through electricity costs.
Posture
Mixed
Lead driver
Sentiment
What changed
Sentiment remains the lead driver in the composite.
What can break
Conditional ERCOT status, unsigned AI tenant contracts, construction execution and project financing leave a substantial gap between pipeline megawatts and contracted cash flow. Soluna ERCOT announcement Soluna Q2 business update
Momentum
61
Value
35
Sentiment
66
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $0.62 · Bull $0.95 · Bear $0.30Analysis 2026-10-21; returns require an exact persisted reference.
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-10-23 • Vendor: Data Vendor v1
Scores
As of 2026-10-23 • Model: HYBRID_IC_RP
AI Memo
As of 2026-10-21 • Model: RankAlpha Sentiment Codex
Investment thesis
As of 2026-10-23

Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-10-23. Definitions

Supporting evidence
What
Grade C · Mixed
Confidence Medium · Net Neutral
Target $4.00
Why
Momentum61 · Δ7d -
Value35 · Δ7d -0.0
Sentiment66 · Δ7d -
So what
Balanced signals (Net Neutral). Wait for confirmation before sizing up.

Confirming evidence

  • • Sentiment remains the lead driver in the composite.

Contradictions & invalidation

  • • Conditional ERCOT status, unsigned AI tenant contracts, construction execution and project financing leave a substantial gap between pipeline megawatts and contracted cash flow. Soluna ERCOT announcement Soluna Q2 business update
  • • Q2 gross profit fell to $0.8 million from $1.9 million in Q1; Soluna cited Briscoe maintenance, Kati 1 ramp costs and depreciation. Soluna Q2 results
  • • The LOI is not a lease, Dorothy's ERCOT classification remains conditional, and Q2 gross profit declined despite revenue growth.

Catalyst clock

2026-12-31

ERCOT verification at Dorothy

Lead driver: Sentiment · See AI snapshot
Momentum
61
8% active weight
Current posture
7d trendTrend unavailable
Trend unavailable
Δ7d
-
Δ21d
-
Value
35
47% active weight
Current posture
7d trendFlat
Δ7d
-0.0
Δ21d
-0.0
Sentiment
66
45% active weight
Current posture
7d trendTrend unavailable
Trend unavailable
Δ7d
-
Δ21d
-
Why this grade

Composite grade C. Momentum 60.7 / Value 35.0 / Sentiment 66.3

Scenario snapshot

Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-10-21. Scenario method

B+
Bull case
0%
Probability
Target price
$0.95
Analysis reference price unavailable
Analysis 2026-10-21 · RankAlpha Sentiment Codex
Most likely
B
Base case
0%
Probability
Target price
$0.62
Analysis reference price unavailable
Analysis 2026-10-21 · RankAlpha Sentiment Codex
B-
Bear case
0%
Probability
Target price
$0.30
Analysis reference price unavailable
Analysis 2026-10-21 · RankAlpha Sentiment Codex
Fundamentals (TTM)
As of 2026-10-23
Market Cap
$135.71M
Beta
4.56
Shares Out
246.7M
P/E (TTM) · Derived
-0.2
P/S (TTM)
7.54
P/FCF (TTM) · Derived
-0.63
Rev YoY
+144.6%
EPS YoY
-80.5%
Gross Margin
-6.7%
Op Margin
-126.9%
Net Debt
-$51.66M
Current Ratio
2.06
As of 2026-10-23 • Updated nightlySource: Internal modelMethods & Data