Solidion Technology Inc. (NASDAQ:STI) Stock Short Interest Report for September

Solidion Technology Inc. (NASDAQ:STI) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 221,708 shares, an increase of 323.0% from the September 15th total of 52,412 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average trading volume of 674,609 shares, the days-to-cover ratio is presently 0.3 days.

Solidion Technology Price Performance

Shares of NASDAQ:STI traded down $0.40 during mid-day trading on Monday, reaching $5.29. 79,865 shares of the company traded hands, compared to its average volume of 1,021,409. The company’s 50 day moving average price is $7.00 and its 200-day moving average price is $8.15. The firm has a market cap of $45.03 million, a PE ratio of -0.41 and a beta of 0.03. Solidion Technology has a 52 week low of $2.94 and a 52 week high of $46.00.

Solidion Technology (NASDAQ:STI) last released its earnings results on Thursday, August 6th. The company reported ($0.35) EPS for the quarter. The business had revenue of $0.12 million for the quarter.

Solidion Technology declared that its board has authorized a share repurchase plan on Monday, September 14th that permits the company to buy back $1.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Karin-Joyce Tjon bought 5,000 shares of the company’s stock in a transaction on Monday, September 14th. The shares were acquired at an average cost of $7.20 per share, with a total value of $36,000.00. Following the completion of the transaction, the director owned 58,053 shares of the company’s stock, valued at approximately $417,981.60. This trade represents a 9.42% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STI shares. Wall Street Zen cut shares of Solidion Technology from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings cut shares of Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Solidion Technology Company Profile

Solidion Technology, Inc (NASDAQ: STI) is a battery technology company focused on developing next-generation energy-storage solutions for electric vehicles and other applications. Its work centers on solid-state battery systems and advanced lithium-ion battery technologies designed to improve energy density, safety, charging performance and operating range.

The company’s technology portfolio includes solid-state battery designs, silicon-based anode materials and related battery components and manufacturing processes.