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

Solidion Technology Inc. (NASDAQ:STI) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 444,102 shares, a growth of 714.0% from the May 31st total of 54,556 shares. Based on an average trading volume of 14,476,822 shares, the short-interest ratio is currently 0.0 days. Approximately 5.8% of the shares of the stock are short sold.

Insider Buying and Selling at Solidion Technology

In related news, major shareholder Henry Ikezi sold 205,937 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was 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 of the company’s stock, valued at approximately $892,080. This represents a 89.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders bought 26,000 shares of company stock valued at $644,010. 0.42% of the stock is owned by insiders.

Institutional Trading of Solidion Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anson Funds Management LP purchased a new position in shares of Solidion Technology during the fourth quarter worth $1,704,000. Geode Capital Management LLC boosted its holdings in Solidion Technology by 68.9% during the 4th 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 period. Jane Street Group LLC acquired a new position in Solidion Technology in the 2nd quarter valued at about $49,000. Finally, Russell Investments Group Ltd. acquired a new position in Solidion Technology in the 2nd quarter valued at about $34,000.

Solidion Technology Trading Up 5.1%

Shares of NASDAQ:STI opened at $12.43 on Friday. The company has a market capitalization of $96.33 million, a price-to-earnings ratio of -1.00 and a beta of 0.14. Solidion Technology has a 12-month low of $2.94 and a 12-month high of $46.00. The business has a 50-day moving average price of $10.21 and a 200 day moving average price of $7.74.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on STI shares. Weiss Ratings downgraded shares of Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Wall Street Zen raised shares of Solidion Technology from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Solidion Technology currently has an average rating of “Sell”.

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.