Short Interest in Solidion Technology Inc. (NASDAQ:STI) Rises By 714.0%

Solidion Technology Inc. (NASDAQ:STI) was the target of a significant 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. Based on an average daily volume of 14,476,822 shares, the days-to-cover ratio is presently 0.0 days. Approximately 5.8% of the company’s stock are sold short.

Solidion Technology Stock Up 5.1%

Shares of Solidion Technology stock opened at $12.43 on Friday. Solidion Technology has a 52-week low of $2.94 and a 52-week high of $46.00. The company has a 50 day moving average of $10.21 and a 200 day moving average of $7.74. The company has a market capitalization of $96.33 million, a P/E ratio of -1.00 and a beta of 0.14.

Solidion Technology (NASDAQ:STI) last announced its quarterly earnings data on Wednesday, May 20th. The company reported ($0.18) EPS for the quarter. The business had revenue of $0.09 million for the quarter.

Insider Buying and Selling at Solidion Technology

In related news, major shareholder Henry Ikezi sold 205,937 shares of Solidion Technology stock in a transaction that occurred on 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 completion of the transaction, the insider owned 23,600 shares in the company, valued at approximately $892,080. The trade was a 89.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 26,000 shares of company stock valued at $644,010 in the last ninety days. Insiders own 0.42% of the company’s stock.

Institutional Trading of Solidion Technology

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. purchased a new position in shares of Solidion Technology in the 2nd quarter valued at about $34,000. Jane Street Group LLC purchased a new stake in Solidion Technology during the second quarter worth approximately $49,000. Geode Capital Management LLC lifted its stake in 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 during the last quarter. Finally, Anson Funds Management LP acquired a new position in Solidion Technology in the fourth quarter valued at approximately $1,704,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on STI shares. Wall Street Zen upgraded Solidion Technology from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings cut Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

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.