Solidion Technology Inc. (NASDAQ:STI) Sees Significant Decrease in Short Interest

Solidion Technology Inc. (NASDAQ:STI) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 247,857 shares, a decline of 30.7% from the March 15th total of 357,638 shares. Based on an average daily trading volume, of 63,746 shares, the days-to-cover ratio is currently 3.9 days. Currently, 3.3% of the company’s stock are sold short.

Hedge Funds Weigh In On Solidion Technology

A number of large investors have recently bought and sold shares of the business. Anson Funds Management LP acquired a new position in Solidion Technology in the 4th quarter worth about $1,704,000. Geode Capital Management LLC raised its holdings in Solidion Technology by 68.9% in the 4th quarter. Geode Capital Management LLC now owns 22,963 shares of the company’s stock worth $163,000 after purchasing an additional 9,370 shares during the period. Jane Street Group LLC acquired a new position in Solidion Technology in the 2nd quarter worth about $49,000. Finally, Russell Investments Group Ltd. acquired a new position in Solidion Technology in the 2nd quarter worth about $34,000.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Solidion Technology in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Solidion Technology Stock Up 0.7%

Shares of STI stock opened at $7.14 on Thursday. The stock has a market cap of $53.34 million, a PE ratio of -2.22 and a beta of 0.50. The business has a 50-day simple moving average of $5.25 and a 200-day simple moving average of $8.01. Solidion Technology has a 52-week low of $2.94 and a 52-week high of $33.99.

About Solidion Technology

Solidion Technology Inc engages in the development and supply of battery materials, components, cells, and selected module/pack technologies. Its products include advanced anode materials; three classes of solid-state batteries, including silicon-rich all-solid-state lithium-ion cells; anode less lithium metal cells; and lithium-sulfur cells. The company was formerly known as Honeycomb Battery Company and changed its name to Solidion Technology Inc in February 2024. The company was incorporated in 2014 and is based in Dayton, Ohio.