Short Interest in Solidion Technology Inc. (NASDAQ:STI) Drops By 19.0%

Solidion Technology Inc. (NASDAQ:STI) saw a large decrease in short interest in January. As of January 30th, there was short interest totaling 95,021 shares, a decrease of 19.0% from the January 15th total of 117,336 shares. Based on an average daily trading volume, of 70,450 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.3% of the company’s stock are short sold. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 70,450 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wall Street Zen upgraded Solidion Technology from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Solidion Technology in a research note on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Solidion Technology currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Solidion Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in Solidion Technology in the 2nd quarter valued at $34,000. Jane Street Group LLC bought a new position in shares of Solidion Technology during the 2nd quarter worth about $49,000. Geode Capital Management LLC raised its position 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 buying an additional 9,370 shares during the last quarter. Finally, Anson Funds Management LP bought a new stake in shares of Solidion Technology in the fourth quarter valued at about $1,704,000.

Solidion Technology Price Performance

Shares of NASDAQ STI traded down $0.77 during trading hours on Tuesday, hitting $4.00. 127,691 shares of the company’s stock were exchanged, compared to its average volume of 61,960. Solidion Technology has a 1-year low of $2.94 and a 1-year high of $33.99. The company’s 50-day moving average price is $7.37 and its 200-day moving average price is $7.74.

Solidion Technology (NASDAQ:STI) last announced its earnings results on Thursday, November 20th. The company reported ($1.33) earnings per share for the quarter. The company had revenue of $0.01 million during the quarter.

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.