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

Solidion Technology Inc. (NASDAQ:STI) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 444,102 shares, an increase of 714.0% from the May 31st total of 54,556 shares. Currently, 5.8% of the company’s shares are short sold. Based on an average daily trading volume, of 14,476,822 shares, the short-interest ratio is currently 0.0 days.

Insider Buying and Selling

In other Solidion Technology news, major shareholder Henry Ikezi sold 205,937 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $37.80, for a total value of $7,784,418.60. Following the transaction, the insider owned 23,600 shares of the company’s stock, valued at $892,080. This represents a 89.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have bought a total of 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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Anson Funds Management LP acquired a new position in shares of Solidion Technology in the fourth quarter valued at approximately $1,704,000. Geode Capital Management LLC lifted its holdings in Solidion Technology by 68.9% during the 4th quarter. Geode Capital Management LLC now owns 22,963 shares of the company’s stock worth $163,000 after buying an additional 9,370 shares in the last quarter. Jane Street Group LLC purchased a new position in Solidion Technology in the 2nd quarter valued at approximately $49,000. Finally, Russell Investments Group Ltd. purchased a new position in Solidion Technology in the 2nd quarter valued at approximately $34,000.

Solidion Technology Trading Down 0.7%

STI opened at $12.34 on Friday. The stock’s 50-day moving average price is $10.32 and its 200 day moving average price is $7.77. Solidion Technology has a 12-month low of $2.94 and a 12-month high of $46.00. The firm has a market cap of $95.64 million, a price-to-earnings ratio of -0.99 and a beta of 0.14.

Solidion Technology (NASDAQ:STI) last announced its 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.

Analyst Ratings Changes

STI has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Solidion Technology from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings downgraded shares of Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average 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.