Solidion Technology (NASDAQ:STI) Posts Earnings Results

Solidion Technology (NASDAQ:STI) posted its quarterly earnings data on Thursday. The company reported ($0.35) EPS for the quarter, FiscalAI reports. The company had revenue of $0.12 million during the quarter.

Solidion Technology Stock Performance

Shares of NASDAQ:STI traded up $0.45 during midday trading on Thursday, reaching $6.87. The company’s stock had a trading volume of 106,373 shares, compared to its average volume of 1,260,209. The firm has a market capitalization of $53.22 million, a price-to-earnings ratio of -0.55 and a beta of -0.03. The firm has a 50 day moving average price of $11.52 and a two-hundred day moving average price of $7.70. Solidion Technology has a fifty-two week low of $2.94 and a fifty-two week high of $46.00.

Insider Buying and Selling

In other Solidion Technology news, major shareholder Henry Ikezi bought 2,000 shares of the stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $35.99 per share, for a total transaction of $71,980.00. Following the completion of the acquisition, the insider owned 216,037 shares in the company, valued at $7,775,171.63. This trade represents a 0.93% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased a total of 26,000 shares of company stock worth $644,010 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Institutional Trading of Solidion Technology

Hedge funds have recently modified their holdings of the stock. Anson Funds Management LP bought a new position in Solidion Technology during the fourth quarter worth $1,704,000. Jane Street Group LLC bought a new stake in Solidion Technology in the second quarter valued at $49,000. Geode Capital Management LLC raised its holdings in shares of Solidion Technology by 68.9% during the fourth quarter. Geode Capital Management LLC now owns 22,963 shares of the company’s stock valued at $163,000 after purchasing an additional 9,370 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of Solidion Technology during the second quarter valued at about $34,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STI shares. Weiss Ratings downgraded shares of Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Solidion Technology from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Solidion Technology 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.