Short Interest in Solidion Technology Inc. (NASDAQ:STI) Drops By 30.7%

Key Points

• Short interest fell 30.7% to 247,857 shares as of March 31, lowering the days-to-cover to about 3.9 and representing roughly 3.3% of shares shorted.
• NASDAQ:STI trades at $7.12 with a market cap of $53.15M and a wide 52-week range ($2.94–$33.99), while analysts maintain a consensus "Sell" rating.
• Institutional activity shows mixed interest: Geode Capital increased its stake by 68.9%, and Anson Funds initiated a new position worth about $1.7M.

Solidion Technology Inc. (NASDAQ:STI - Get Free Report) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 247,857 shares, a decrease of 30.7% from the March 15th total of 357,638 shares. Based on an average daily volume of 63,746 shares, the days-to-cover ratio is currently 3.9 days. Approximately 3.3% of the shares of the company are short sold.

Solidion Technology Price Performance

NASDAQ:STI opened at $7.12 on Tuesday. Solidion Technology has a 52 week low of $2.94 and a 52 week high of $33.99. The stock has a market capitalization of $53.15 million, a PE ratio of -2.20 and a beta of 0.50. The stock's 50-day moving average price is $5.26 and its 200-day moving average price is $8.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Solidion Technology in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

Institutional Investors Weigh In On Solidion Technology

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of 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. Anson Funds Management LP acquired a new stake in Solidion Technology in the 4th quarter worth about $1,704,000. Jane Street Group LLC acquired a new stake in Solidion Technology in the 2nd quarter worth about $49,000. Finally, Russell Investments Group Ltd. acquired a new stake in Solidion Technology in the 2nd quarter worth about $34,000.

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.

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