Solidion Technology Inc. (NASDAQ:STI) Short Interest Up 113.5% in April

Solidion Technology Inc. (NASDAQ:STI) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 243,554 shares, a growth of 113.5% from the April 15th total of 114,063 shares. Approximately 3.3% of the company’s shares are short sold. Based on an average trading volume of 119,653 shares, the days-to-cover ratio is presently 2.0 days.

Solidion Technology Trading Down 2.5%

NASDAQ STI opened at $5.55 on Friday. Solidion Technology has a 1-year low of $2.94 and a 1-year high of $33.99. The firm has a market cap of $41.46 million, a PE ratio of -0.60 and a beta of 0.18. The stock has a 50-day moving average of $5.44 and a 200-day moving average of $7.13.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on STI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Solidion Technology in a research note on Friday, May 1st. Wall Street Zen cut Solidion Technology from a “sell” rating to a “strong sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Solidion Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in shares of Solidion Technology in the second quarter worth about $34,000. Jane Street Group LLC purchased a new position in Solidion Technology during the second quarter valued at approximately $49,000. Geode Capital Management LLC lifted 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 acquiring an additional 9,370 shares during the period. Finally, Anson Funds Management LP acquired a new position in Solidion Technology in the fourth quarter valued at approximately $1,704,000.

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.