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

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on STI. Wall Street Zen upgraded Solidion Technology from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Solidion Technology in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Solidion Technology currently has an average rating of “Sell”.

Hedge Funds Weigh In On Solidion Technology

Several hedge funds have recently added to or reduced their stakes in STI. Russell Investments Group Ltd. bought a new position in Solidion Technology in the second quarter valued at about $34,000. Jane Street Group LLC bought a new position in Solidion Technology in the second quarter valued at about $49,000. Geode Capital Management LLC boosted its stake in Solidion Technology by 68.9% in the fourth quarter. Geode Capital Management LLC now owns 22,963 shares of the company’s stock valued at $163,000 after acquiring an additional 9,370 shares during the last quarter. Finally, Anson Funds Management LP bought a new position in Solidion Technology in the fourth quarter valued at approximately $1,704,000.

Solidion Technology Trading Down 1.9%

Shares of STI traded down $0.09 during mid-day trading on Friday, hitting $4.65. 15,416 shares of the company traded hands, compared to its average volume of 60,635. Solidion Technology has a one year low of $2.94 and a one year high of $33.99. The business has a 50-day moving average of $5.52 and a 200 day moving average of $6.66. The stock has a market capitalization of $34.74 million, a price-to-earnings 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 firm had revenue of $0.09 million for the quarter.

About Solidion Technology

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.