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

Solidion Technology Inc. (NASDAQ:STI – Get Free Report) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 59,151 shares, a drop of 75.7% from the April 30th total of 243,554 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 73,584 shares, the short-interest ratio is presently 0.8 days.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on STI shares. Wall Street Zen raised shares of Solidion Technology from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Solidion Technology in a report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

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Solidion Technology Stock Performance

Shares of NASDAQ STI traded down $0.09 during midday trading on Friday, hitting $4.65. The company’s stock had a trading volume of 15,416 shares, compared to its average volume of 60,635. The firm has a market cap of $34.71 million, a P/E ratio of -0.37 and a beta of 0.18. The firm’s fifty day moving average price is $5.52 and its 200-day moving average price is $6.66. Solidion Technology has a 1-year low of $2.94 and a 1-year high of $33.99.

Solidion Technology (NASDAQ:STI – Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $0.09 million during the quarter.

Institutional Trading of Solidion Technology

A number of institutional investors and hedge funds have recently made changes to their positions in STI. Russell Investments Group Ltd. acquired a new stake in shares of Solidion Technology during the 2nd quarter worth approximately $34,000. Jane Street Group LLC acquired a new stake in shares of Solidion Technology during the 2nd quarter worth approximately $49,000. Geode Capital Management LLC raised its position in shares of Solidion Technology by 68.9% during 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. Finally, Anson Funds Management LP acquired a new position in Solidion Technology during the 4th quarter valued at about $1,704,000.

About Solidion Technology

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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.

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