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

Solidion Technology Inc. (NASDAQ:STI) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 240,948 shares, a decrease of 45.3% from the June 30th total of 440,860 shares. Based on an average trading volume of 210,511 shares, the days-to-cover ratio is presently 1.1 days. Currently, 3.1% of the company’s stock are sold short.

Analyst Ratings Changes

STI has been the topic of several research reports. Weiss Ratings lowered Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered Solidion Technology from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Insider Buying and Selling at Solidion Technology

In related news, major shareholder Henry Ikezi sold 205,937 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $37.80, for a total transaction of $7,784,418.60. Following the completion of the sale, the insider directly owned 23,600 shares in the company, valued at approximately $892,080. This trade represents a 89.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 26,000 shares of company stock valued at $644,010 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in Solidion Technology in the 2nd quarter worth approximately $34,000. Jane Street Group LLC acquired a new position in Solidion Technology during the second quarter valued at approximately $49,000. Geode Capital Management LLC grew its holdings in Solidion Technology by 68.9% during the fourth quarter. Geode Capital Management LLC now owns 22,963 shares of the company’s stock valued at $163,000 after purchasing an additional 9,370 shares during the last quarter. Finally, Anson Funds Management LP bought a new position in shares of Solidion Technology in the fourth quarter valued at approximately $1,704,000.

Solidion Technology Price Performance

NASDAQ:STI traded up $0.27 during trading hours on Thursday, reaching $6.33. The company’s stock had a trading volume of 15,930 shares, compared to its average volume of 1,299,775. The company has a market cap of $49.09 million, a price-to-earnings ratio of -0.51 and a beta of -0.09. Solidion Technology has a one year low of $2.94 and a one year high of $46.00. The business’s 50-day moving average is $11.36 and its 200-day moving average is $7.78.

Solidion Technology (NASDAQ:STI) last posted 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 during the quarter.

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.