Insider Selling: 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 company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $2.66, for a total value of $104,290.62. Following the completion of the transaction, the director directly owned 243,975 shares in the company, valued at $648,973.50. This represents a 13.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Solid Power Stock Performance

NASDAQ SLDP opened at $3.06 on Friday. The stock has a market capitalization of $688.44 million, a P/E ratio of -6.37 and a beta of 1.91. Solid Power, Inc. has a 1 year low of $1.30 and a 1 year high of $8.86. The business’s fifty day moving average is $3.14 and its two-hundred day moving average is $4.21.

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

Hedge Funds Weigh In On Solid Power

A number of hedge funds have recently modified their holdings of SLDP. Bank of America Corp DE increased its stake in shares of Solid Power by 3,974.6% in the third quarter. Bank of America Corp DE now owns 6,495,146 shares of the company’s stock worth $22,538,000 after acquiring an additional 6,335,739 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Solid Power by 5,305.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,934,653 shares of the company’s stock worth $8,222,000 after acquiring an additional 1,898,859 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Solid Power in the fourth quarter worth $7,810,000. Vanguard Group Inc. increased its stake 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 worth $32,760,000 after acquiring an additional 1,278,324 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Solid Power by 25.9% in the fourth 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 during the last quarter. 33.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Power in a report on Tuesday, April 21st. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Solid Power in a research note on Wednesday, May 6th. HC Wainwright assumed coverage on shares of Solid Power in a research note on Monday, March 16th. They set a “buy” rating and a $7.00 target price on the stock. Finally, Zacks Research raised shares of Solid Power to a “hold” rating in a research note on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Solid Power presently has an average rating of “Hold” and an average target price of $7.00.

Solid Power Company Profile

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.