Share Repurchase Program Approved by Solidion Technology (NASDAQ:STI) Board

by · The Markets Daily

Solidion Technology (NASDAQ:STI – Get Free Report) declared that its board has authorized a stock repurchase program on Monday, September 14th, RTT News reports. The company plans to buyback $1.00 million in shares. This buyback authorization permits the company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on STI. Wall Street Zen lowered shares of Solidion Technology from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings lowered Solidion Technology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

View Our Latest Analysis on Solidion Technology

Solidion Technology Price Performance

NASDAQ STI traded down $0.20 during trading hours on Monday, reaching $7.03. 56,823 shares of the stock traded hands, compared to its average volume of 50,572. The stock has a 50 day simple moving average of $7.23 and a two-hundred day simple moving average of $7.90. Solidion Technology has a 1 year low of $2.94 and a 1 year high of $46.00. The company has a market cap of $59.85 million, a price-to-earnings ratio of -0.55 and a beta of -0.01.

Solidion Technology (NASDAQ:STI – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.35) EPS for the quarter. The company had revenue of $0.12 million for the quarter.

Solidion Technology Company Profile

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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.

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