Invesco Ltd. Buys 342,114 Shares of Solid Power, Inc. (NASDAQ:SLDP)

Invesco Ltd. increased its stake in shares of Solid Power, Inc. (NASDAQ:SLDP - Free Report) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,802,147 shares of the company's stock after purchasing an additional 342,114 shares during the period. Invesco Ltd. owned approximately 2.11% of Solid Power worth $7,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in Solid Power by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 3,559,922 shares of the company's stock valued at $6,729,000 after buying an additional 152,907 shares during the last quarter. DnB Asset Management AS purchased a new stake in Solid Power during the fourth quarter valued at $192,000. Vanguard Group Inc. boosted its position in Solid Power by 12.3% in the fourth quarter. Vanguard Group Inc. now owns 8,353,470 shares of the company's stock worth $15,788,000 after purchasing an additional 912,649 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Solid Power during the 4th quarter valued at about $27,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Solid Power during the 4th quarter valued at about $40,000. Institutional investors own 33.66% of the company's stock.

Insider Activity at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $1.13, for a total value of $211,875.00. Following the sale, the chief technology officer now directly owns 865,304 shares of the company's stock, valued at $977,793.52. This represents a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.20% of the stock is owned by corporate insiders.

Solid Power Price Performance

Shares of SLDP stock traded down $0.02 on Wednesday, hitting $1.09. 837,807 shares of the stock traded hands, compared to its average volume of 2,518,761. The firm has a 50 day simple moving average of $1.10 and a two-hundred day simple moving average of $1.27. The firm has a market cap of $198.37 million, a price-to-earnings ratio of -2.22 and a beta of 1.44. Solid Power, Inc. has a 52 week low of $0.68 and a 52 week high of $2.70.

Solid Power (NASDAQ:SLDP - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.04). Solid Power had a negative net margin of 471.22% and a negative return on equity of 18.08%. The company had revenue of $4.46 million during the quarter, compared to the consensus estimate of $3.85 million.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a "buy" rating and issued a $2.00 price objective on shares of Solid Power in a report on Wednesday, January 15th.

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.