Soluna Holdings director Phelan sells $180,347 of preferred stock

Soluna Holdings director William P. Phelan has sold a total of $180,347 worth of the company's 9.0% Series A Cumulative Perpetual Preferred Stock in three transactions in late August. The sales occurred at prices ranging from $12.00 to $12.09 per share, with the stock currently trading at $12.12, near its 52-week high of $12.77.

Phelan's decision to reduce his position may be influenced by the stock's current valuation, which InvestingPro analysis suggests is overvalued relative to its Fair Value. Following the transactions, Phelan still beneficially owns 71,272 shares of the preferred stock. Investors should be aware that the stock is identified as highly volatile by InvestingPro, with 11 additional ProTips available for subscribers seeking more detailed insights into the company's financial health and prospects.

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