Solid Power (NASDAQ:SLDP) Director Lesa Roe Sells 39,207 Shares

Solid Power, Inc. (NASDAQ:SLDP) Director Lesa Roe sold 39,207 shares of the business’s 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 directly owned 243,975 shares in the company, valued at $648,973.50. This trade represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Solid Power Stock Up 7.2%

Shares of Solid Power stock opened at $2.97 on Friday. The stock’s fifty day moving average is $3.14 and its 200-day moving average is $4.22. The firm has a market capitalization of $668.20 million, a PE ratio of -6.19 and a beta of 1.91. Solid Power, Inc. has a 12-month low of $1.27 and a 12-month high of $8.86.

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

Analyst Upgrades and Downgrades

SLDP has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price target on shares of Solid Power in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Power in a research note on Tuesday, April 21st. HC Wainwright began coverage on Solid Power in a research note on Monday, March 16th. They set a “buy” rating and a $7.00 price target for the company. Finally, Zacks Research upgraded Solid Power to a “hold” rating in a research note on Tuesday, March 17th. Two 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

Hedge Funds Weigh In On Solid Power

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in Solid Power by 3,974.6% during the 3rd 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 grew its position in Solid Power by 5,305.0% during the 4th 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 bought a new stake in Solid Power during the 4th quarter worth approximately $7,810,000. Vanguard Group Inc. grew its position in Solid Power by 15.7% during the 3rd 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 grew its position 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 during the last quarter. 33.66% of the stock is owned by institutional investors and hedge funds.

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.