Solidion Technology (NASDAQ:STI) Trading Up 1.3% – Still a Buy?

Shares of Solidion Technology Inc. (NASDAQ:STI) traded up 1.3% on Thursday . The stock traded as high as $6.79 and last traded at $6.30. 79,321 shares traded hands during mid-day trading, an increase of 47% from the average session volume of 54,097 shares. The stock had previously closed at $6.22.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Solidion Technology in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Solidion Technology Price Performance

The stock has a market cap of $47.06 million, a P/E ratio of -1.94 and a beta of 0.50. The company has a fifty day moving average of $5.52 and a 200 day moving average of $7.86.

Institutional Trading of Solidion Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Solidion Technology in the 2nd quarter worth $34,000. Jane Street Group LLC bought a new position in Solidion Technology during the second quarter valued at about $49,000. Geode Capital Management LLC boosted its stake in 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 in the last quarter. Finally, Anson Funds Management LP acquired a new position in Solidion Technology during the fourth quarter worth about $1,704,000.

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.