Solidion Technology Inc. (NASDAQ:STI – Get Free Report) saw a significant decrease in short interest in September. As of September 15th, there was short interest totaling 52,412 shares, a decrease of 36.9% from the August 31st total of 83,110 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average trading volume of 54,729 shares, the short-interest ratio is currently 1.0 days.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Weiss Ratings upgraded Solidion Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 16th. Wall Street Zen cut Solidion Technology from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.
Insider Activity
Solidion Technology Stock Down 4.5%
Solidion Technology stock opened at $6.16 on Friday. The firm has a 50 day moving average price of $7.09 and a 200-day moving average price of $8.13. Solidion Technology has a twelve month low of $2.94 and a twelve month high of $46.00. The company has a market capitalization of $52.42 million, a P/E ratio of -0.48 and a beta of 0.04.
Solidion Technology (NASDAQ:STI – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter. The business had revenue of $0.12 million during the quarter.
Solidion Technology announced that its Board of Directors has initiated a share repurchase program on Monday, September 14th that authorizes the company to buyback $1.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
About Solidion Technology
Solidion Technology, Inc (NASDAQ: STI) is a battery technology company focused on developing next-generation energy-storage solutions. Its work centers on solid-state battery technologies and advanced battery materials intended to improve energy density, safety, charging performance and operating range compared with conventional lithium-ion batteries.
The company’s technology portfolio includes solid-state battery designs, silicon-based anode materials, lithium-metal anodes and other advanced battery components.
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