Solidion Technology (NASDAQ:STI) Downgraded by Wall Street Zen to “Sell”

Solidion Technology (NASDAQ:STI) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Separately, Weiss Ratings cut Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Solidion Technology Trading Down 0.7%

Solidion Technology stock opened at $12.34 on Friday. Solidion Technology has a 1-year low of $2.94 and a 1-year high of $46.00. The firm’s fifty day simple moving average is $10.32 and its 200-day simple moving average is $7.77. The company has a market capitalization of $95.64 million, a P/E ratio of -0.99 and a beta of 0.14.

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

Insider Buying and Selling

In other 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 transaction, the insider owned 23,600 shares of the company’s stock, valued at $892,080. This trade represents a 89.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 26,000 shares of company stock worth $644,010 in the last 90 days. Company insiders own 0.42% of the company’s stock.

Institutional Trading of Solidion Technology

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in Solidion Technology in the 2nd quarter valued at $34,000. Geode Capital Management LLC lifted its position 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 acquiring an additional 9,370 shares during the last quarter. Jane Street Group LLC acquired a new position in Solidion Technology during the 2nd quarter worth $49,000. Finally, Anson Funds Management LP bought a new stake in Solidion Technology during the fourth quarter valued at about $1,704,000.

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.