Solidion Technology (NASDAQ:STI – Get Free Report) announced its earnings results on Thursday. The company reported ($0.35) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $0.12 million during the quarter.
Solidion Technology Stock Performance
Shares of STI opened at $7.21 on Friday. Solidion Technology has a fifty-two week low of $2.94 and a fifty-two week high of $46.00. The business has a 50-day moving average of $11.61 and a 200 day moving average of $7.69. The firm has a market cap of $55.88 million, a P/E ratio of -0.56 and a beta of -0.03.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Solidion Technology from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Weiss Ratings downgraded shares of Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.
Insider Activity at Solidion Technology
In related news, major shareholder Henry Ikezi bought 2,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $35.99 per share, for a total transaction of $71,980.00. Following the completion of the transaction, the insider directly owned 216,037 shares in the company, valued at approximately $7,775,171.63. The trade was a 0.93% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have purchased 26,000 shares of company stock worth $644,010. Corporate insiders own 0.42% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Solidion Technology in the second quarter worth $34,000. Geode Capital Management LLC grew its position in Solidion Technology by 68.9% during the fourth quarter. Geode Capital Management LLC now owns 22,963 shares of the company’s stock worth $163,000 after buying an additional 9,370 shares in the last quarter. Jane Street Group LLC purchased a new position in Solidion Technology during the second quarter worth about $49,000. Finally, Anson Funds Management LP bought a new position in Solidion Technology in the 4th quarter worth about $1,704,000.
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.
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