Short Interest in Solidion Technology Inc. (NASDAQ:STI) Expands By 714.0%
by Danessa Lincoln · The Markets DailySolidion Technology Inc. (NASDAQ:STI – Get Free Report) saw 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 trading 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.
Insider Transactions at Solidion Technology
In other Solidion Technology news, major shareholder Henry Ikezi sold 205,937 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $37.80, for a total transaction of $7,784,418.60. Following the transaction, the insider directly owned 23,600 shares in the company, valued at $892,080. This represents a 89.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have bought 26,000 shares of company stock worth $644,010. 0.42% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Anson Funds Management LP purchased a new position in shares of Solidion Technology during the 4th quarter valued at about $1,704,000. Jane Street Group LLC acquired a new stake in Solidion Technology during the second quarter valued at $49,000. Geode Capital Management LLC increased its holdings in Solidion Technology by 68.9% in the fourth quarter. Geode Capital Management LLC now owns 22,963 shares of the company’s stock valued at $163,000 after buying an additional 9,370 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Solidion Technology in the second quarter valued at $34,000.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Weiss Ratings cut shares of Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Wall Street Zen lowered shares of Solidion Technology from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.
Read Our Latest Stock Report on STI
Solidion Technology Price Performance
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 business has a fifty day moving average price of $10.32 and a 200-day moving average price of $7.77. The stock has a market capitalization of $95.64 million, a price-to-earnings ratio of -0.99 and a beta of 0.14.
Solidion Technology (NASDAQ:STI – Get Free Report) last announced its earnings results on Wednesday, May 20th. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $0.09 million during the quarter.
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.