Solidion Technology Inc. (NASDAQ:STI) Short Interest Update

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

Solidion Technology Stock Performance

STI stock traded down $0.12 during midday trading on Friday, reaching $4.62. The stock had a trading volume of 15,416 shares, compared to its average volume of 91,475. Solidion Technology has a 52-week low of $2.94 and a 52-week high of $33.99. The stock has a market cap of $34.51 million, a PE ratio of -0.37 and a beta of 0.18. The firm has a fifty day simple moving average of $5.53 and a two-hundred day simple moving average of $6.68.

Solidion Technology (NASDAQ:STI) last released its earnings results on Wednesday, May 20th. The company reported ($0.18) earnings per share for the quarter. The business had revenue of $0.09 million for the quarter.

Hedge Funds Weigh In On Solidion Technology

Several institutional investors and hedge funds have recently modified their holdings of the company. Anson Funds Management LP purchased a new position in shares of Solidion Technology in the 4th quarter valued at $1,704,000. Geode Capital Management LLC grew its stake in shares of 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 last quarter. Jane Street Group LLC purchased a new position in shares of Solidion Technology in the second quarter worth approximately $49,000. Finally, Russell Investments Group Ltd. purchased a new position in Solidion Technology during the second quarter valued at approximately $34,000.

Analyst Upgrades and Downgrades

STI has been the topic of several research analyst reports. Wall Street Zen raised Solidion Technology from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Solidion Technology in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

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.