Short Interest in Solidion Technology Inc. (NASDAQ:STI) Decreases By 19.0%

Solidion Technology Inc. (NASDAQ:STI) was the recipient of a significant drop in short interest in January. As of January 30th, there was short interest totaling 95,021 shares, a drop of 19.0% from the January 15th total of 117,336 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 70,450 shares, the short-interest ratio is currently 1.3 days. Based on an average daily trading volume, of 70,450 shares, the short-interest ratio is currently 1.3 days. Currently, 1.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in Solidion Technology during the 2nd quarter worth about $34,000. Jane Street Group LLC purchased a new stake in Solidion Technology during the second quarter worth about $49,000. Finally, Geode Capital Management LLC lifted its position in shares of Solidion Technology by 68.9% during the fourth 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 in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on STI. Wall Street Zen raised shares of Solidion Technology from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Solidion Technology in a research report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Solidion Technology currently has an average rating of “Sell”.

Solidion Technology Price Performance

NASDAQ:STI opened at $4.77 on Friday. The company’s 50-day moving average is $7.52 and its two-hundred day moving average is $7.70. The firm has a market capitalization of $35.61 million, a price-to-earnings ratio of -1.47 and a beta of 0.70. Solidion Technology has a 1-year low of $2.94 and a 1-year high of $33.99.

Solidion Technology (NASDAQ:STI) last released its quarterly earnings results on Thursday, November 20th. The company reported ($1.33) earnings per share for the quarter. The firm had revenue of $0.01 million during the quarter.

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.