Healthcare of Ontario Pension Plan Trust Fund Reduces Position in Solid Power, Inc. $SLDP

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of Solid Power, Inc. (NASDAQ:SLDP) by 31.7% in the first quarter, Holdings Channel.com reports. The firm owned 1,255,988 shares of the company’s stock after selling 581,632 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Solid Power were worth $3,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Walleye Capital LLC lifted its stake in shares of Solid Power by 118.7% during the 1st quarter. Walleye Capital LLC now owns 67,190 shares of the company’s stock valued at $202,000 after buying an additional 36,470 shares in the last quarter. First Trust Advisors LP grew its stake in Solid Power by 14.4% in the 1st quarter. First Trust Advisors LP now owns 42,448 shares of the company’s stock valued at $127,000 after buying an additional 5,353 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Solid Power by 87.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,618,519 shares of the company’s stock valued at $10,852,000 after buying an additional 1,683,866 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Solid Power by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 450,866 shares of the company’s stock valued at $1,353,000 after acquiring an additional 21,117 shares during the period. Finally, Abel Hall LLC purchased a new stake in shares of Solid Power during the first quarter worth $36,000. Hedge funds and other institutional investors own 33.66% of the company’s stock.

Insider Buying and Selling at Solid Power

In related news, Director Lesa B. Roe sold 39,207 shares of the stock in a transaction on 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. This trade represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.70% of the company’s stock.

Solid Power Trading Up 3.5%

Solid Power stock opened at $2.07 on Friday. The firm’s 50 day simple moving average is $2.68 and its 200 day simple moving average is $3.30. The firm has a market capitalization of $465.71 million, a PE ratio of -4.31 and a beta of 1.90. Solid Power, Inc. has a 1-year low of $1.98 and a 1-year high of $8.86.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLDP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Power in a report on Friday, July 17th. Alliance Global Partners began coverage on Solid Power in a report on Wednesday, June 10th. They set a “buy” rating and a $6.75 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $7.00 target price on shares of Solid Power in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.92.

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.