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

Solidion Technology Inc. (NASDAQ:STI) was the target of a large drop in short interest in May. As of May 15th, there was short interest totaling 59,151 shares, a drop of 75.7% from the April 30th total of 243,554 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 73,584 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in shares of Solidion Technology during the 2nd quarter valued at about $34,000. Jane Street Group LLC purchased a new position in shares of Solidion Technology during the 2nd quarter valued at about $49,000. Geode Capital Management LLC raised its holdings in shares of Solidion Technology by 68.9% during the 4th quarter. Geode Capital Management LLC now owns 22,963 shares of the company’s stock valued at $163,000 after buying an additional 9,370 shares in the last quarter. Finally, Anson Funds Management LP purchased a new position in shares of Solidion Technology during the 4th quarter valued at about $1,704,000.

Solidion Technology Stock Performance

Shares of Solidion Technology stock traded down $0.12 on Friday, reaching $4.62. 15,416 shares of the company’s stock were exchanged, 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 firm’s 50-day moving average is $5.53 and its two-hundred day moving average is $6.68. The company has a market capitalization of $34.51 million, a P/E ratio of -0.37 and a beta of 0.18.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Solidion Technology in a report on Friday, May 1st. Wall Street Zen upgraded shares of Solidion Technology from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Solidion Technology Company Profile

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.