Karin-Joyce Tjon Acquires 5,000 Shares of Solidion Technology (NASDAQ:STI) Stock

Solidion Technology Inc. (NASDAQ:STI) Director Karin-Joyce Tjon bought 5,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was bought at an average price of $7.20 per share, for a total transaction of $36,000.00. Following the acquisition, the director directly owned 58,053 shares of the company’s stock, valued at approximately $417,981.60. This represents a 9.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Solidion Technology Stock Down 1.2%

Shares of NASDAQ:STI opened at $6.55 on Thursday. The business’s 50 day moving average is $7.19 and its 200 day moving average is $7.93. Solidion Technology Inc. has a 12-month low of $2.94 and a 12-month high of $46.00. The stock has a market cap of $55.74 million, a price-to-earnings ratio of -0.51 and a beta of -0.01.

Solidion Technology (NASDAQ:STI) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.35) EPS for the quarter. The company had revenue of $0.12 million during the quarter.

Solidion Technology announced that its board has initiated a stock buyback program on Monday, September 14th that permits the company to repurchase $1.00 million in shares. This repurchase authorization permits the company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 27th. Wall Street Zen lowered shares of Solidion Technology from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Solidion Technology has an average rating of “Sell”.

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.