Solidion Technology Inc. (NASDAQ:STI) Sees Significant Decline in Short Interest

Solidion Technology Inc. (NASDAQ:STI) saw a significant decline in short interest in December. As of December 15th, there was short interest totaling 82,165 shares, a decline of 40.2% from the November 30th total of 137,324 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 51,429 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 51,429 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on STI shares. Wall Street Zen upgraded Solidion Technology from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Solidion Technology in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Solidion Technology currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Solidion Technology

A hedge fund recently bought a new stake in Solidion Technology stock. Jane Street Group LLC bought a new position in shares of Solidion Technology Inc. (NASDAQ:STI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,445 shares of the company’s stock, valued at approximately $49,000. Jane Street Group LLC owned about 0.46% of Solidion Technology as of its most recent filing with the Securities & Exchange Commission.

Solidion Technology Trading Down 7.3%

NASDAQ STI opened at $6.31 on Friday. Solidion Technology has a 1-year low of $2.94 and a 1-year high of $55.00. The company has a 50 day moving average of $9.90 and a 200-day moving average of $6.82. The firm has a market cap of $47.10 million, a price-to-earnings ratio of -1.95 and a beta of 0.64.

Solidion Technology (NASDAQ:STI) last announced its earnings results on Thursday, November 20th. The company reported ($1.33) EPS 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.