Solid Power (NASDAQ:SLDP) Director Sells $104,290.62 in Stock

Solid Power, Inc. (NASDAQ:SLDP) Director Lesa Roe sold 39,207 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $2.66, for a total value of $104,290.62. Following the sale, the director owned 243,975 shares in the company, valued at approximately $648,973.50. The trade was a 13.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Solid Power Stock Performance

Shares of Solid Power stock traded up $0.20 during trading on Thursday, hitting $2.97. 5,503,698 shares of the stock traded hands, compared to its average volume of 6,041,010. The stock has a market cap of $668.19 million, a P/E ratio of -6.19 and a beta of 1.91. Solid Power, Inc. has a twelve month low of $1.27 and a twelve month high of $8.86. The company has a fifty day moving average price of $3.15 and a two-hundred day moving average price of $4.25.

Solid Power (NASDAQ:SLDP) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.06. The firm had revenue of $3.07 million during the quarter, compared to the consensus estimate of $3.33 million. Solid Power had a negative net margin of 485.47% and a negative return on equity of 21.57%. On average, equities research analysts expect that Solid Power, Inc. will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Solid Power by 15.7% in the third quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company’s stock valued at $32,760,000 after purchasing an additional 1,278,324 shares during the period. Bank of America Corp DE raised its stake in shares of Solid Power by 3,974.6% in the 3rd quarter. Bank of America Corp DE now owns 6,495,146 shares of the company’s stock valued at $22,538,000 after acquiring an additional 6,335,739 shares during the period. Riverstone Holdings LLC grew its holdings in shares of Solid Power by 3.7% in the third quarter. Riverstone Holdings LLC now owns 4,714,816 shares of the company’s stock valued at $16,360,000 after purchasing an additional 169,709 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Solid Power by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 4,111,916 shares of the company’s stock valued at $17,479,000 after purchasing an additional 268,539 shares in the last quarter. Finally, State Street Corp grew its holdings in Solid Power by 25.9% during the 4th quarter. State Street Corp now owns 4,077,239 shares of the company’s stock worth $17,328,000 after acquiring an additional 839,471 shares in the last quarter. Hedge funds and other institutional investors own 33.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SLDP shares. Zacks Research upgraded Solid Power to a “hold” rating in a research note on Tuesday, March 17th. HC Wainwright assumed coverage on Solid Power in a research report on Monday, March 16th. They set a “buy” rating and a $7.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Solid Power in a research note on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Power in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.00.

About Solid Power

Solid Power, Inc (NASDAQ: SLDP) is a Colorado-based company specializing in the development and manufacturing of all-solid-state rechargeable battery cells for the electric vehicle (EV) and aerospace industries. Founded in 2012 as a spin-out from the University of Colorado Boulder, Solid Power has focused on advancing solid electrolytes and high-energy battery architectures to deliver improved safety, higher energy density and longer cycle life compared with traditional lithium-ion batteries.

The company’s core offerings include multilayer solid-state battery cells that utilize sulfide-based solid electrolytes and high-capacity cathode materials.