Solid Power, Inc. (NASDAQ:SLDP) Sees Significant Increase in Short Interest

Solid Power, Inc. (NASDAQ:SLDP) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 23,150,000 shares, an increase of 55.0% from the December 15th total of 14,940,000 shares. Approximately 16.6% of the shares of the company are short sold. Based on an average trading volume of 3,990,000 shares, the short-interest ratio is presently 5.8 days.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and set a $2.00 price objective on shares of Solid Power in a research note on Wednesday.

Insider Buying and Selling

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $1.07, for a total value of $200,625.00. Following the completion of the transaction, the chief technology officer now directly owns 869,720 shares of the company’s stock, valued at $930,600.40. This represents a 17.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 562,500 shares of company stock valued at $793,125 in the last quarter. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Solid Power

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. bought a new stake in shares of Solid Power in the 2nd quarter worth approximately $60,000. Intech Investment Management LLC bought a new position in shares of Solid Power in the third quarter valued at $62,000. Silver Lake Advisory LLC bought a new stake in shares of Solid Power during the 2nd quarter worth $69,000. SG Americas Securities LLC grew its holdings in shares of Solid Power by 115.0% in the 3rd quarter. SG Americas Securities LLC now owns 59,797 shares of the company’s stock worth $81,000 after acquiring an additional 31,978 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Solid Power by 71.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 61,044 shares of the company’s stock worth $101,000 after purchasing an additional 25,520 shares during the period. 33.66% of the stock is owned by institutional investors and hedge funds.

Solid Power Price Performance

Shares of SLDP traded up $0.05 during midday trading on Friday, reaching $1.68. The stock had a trading volume of 1,045,070 shares, compared to its average volume of 6,154,729. The firm’s 50 day moving average price is $1.38 and its 200-day moving average price is $1.45. Solid Power has a 52 week low of $1.00 and a 52 week high of $2.70. The company has a market capitalization of $302.15 million, a P/E ratio of -3.42 and a beta of 1.45.

Solid Power Company Profile

Solid Power, Inc develops solid state battery technologies for the electric vehicles (EV) and other markets in the United States. The company sells its sulfide-based solid electrolyte; and licenses its solid-state cell designs and manufacturing processes. It also produces and sells 0.2, 2, 20 ampere-hour (Ah), and EV cells.