Solidion Technology Inc. (NASDAQ:STI) Short Interest Down 54.0% in April

Solidion Technology Inc. (NASDAQ:STI) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 114,063 shares, a decline of 54.0% from the March 31st total of 247,857 shares. Based on an average daily volume of 51,986 shares, the short-interest ratio is currently 2.2 days. Approximately 1.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Solidion Technology

Several large investors have recently modified their holdings of STI. Russell Investments Group Ltd. purchased a new stake in shares of Solidion Technology during the 2nd quarter valued at approximately $34,000. Jane Street Group LLC purchased a new position in Solidion Technology in the 2nd quarter valued at approximately $49,000. Geode Capital Management LLC raised 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. Finally, Anson Funds Management LP purchased a new stake in shares of Solidion Technology during the fourth quarter worth $1,704,000.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Solidion Technology from a “strong sell” rating to a “sell” rating in a research note on Sunday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Solidion Technology currently has an average rating of “Sell”.

Solidion Technology Trading Down 2.9%

Shares of NASDAQ:STI traded down $0.13 during mid-day trading on Tuesday, reaching $4.32. The company had a trading volume of 25,763 shares, compared to its average volume of 99,910. The firm has a market cap of $32.27 million, a price-to-earnings ratio of -0.47 and a beta of 0.50. The company’s 50-day moving average price is $5.15 and its 200-day moving average price is $8.05. Solidion Technology has a one year low of $2.94 and a one year high of $33.99.

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.