Solid Power (NASDAQ:SLDP) Reaches New 12-Month High - What's Next?

Shares of Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $4.17 and last traded at $4.14, with a volume of 3811865 shares traded. The stock had previously closed at $3.77.

Solid Power Price Performance

The stock has a 50-day moving average of $1.96 and a 200 day moving average of $1.51. The stock has a market capitalization of $676.37 million, a price-to-earnings ratio of -7.39 and a beta of 1.75.

Solid Power (NASDAQ:SLDP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.06. Solid Power had a negative return on equity of 21.24% and a negative net margin of 447.80%. The firm had revenue of $6.02 million for the quarter, compared to the consensus estimate of $5.00 million.

Insider Buying and Selling

In related news, Director Lesa B. Roe sold 29,000 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $1.69, for a total transaction of $49,010.00. Following the sale, the director owned 239,049 shares of the company's stock, valued at approximately $403,992.81. The trade was a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven H. Goldberg sold 82,365 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1.62, for a total transaction of $133,431.30. Following the completion of the transaction, the director owned 118,808 shares of the company's stock, valued at $192,468.96. This trade represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Solid Power

Several hedge funds have recently made changes to their positions in SLDP. Cibc World Markets Corp acquired a new stake in shares of Solid Power during the 4th quarter worth about $27,000. BNP Paribas Financial Markets purchased a new stake in Solid Power during the fourth quarter worth $34,000. Raymond James Financial Inc. purchased a new position in Solid Power during the fourth quarter worth about $40,000. ProShare Advisors LLC increased its stake in Solid Power by 50.6% during the fourth quarter. ProShare Advisors LLC now owns 43,589 shares of the company's stock worth $82,000 after acquiring an additional 14,655 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in Solid Power by 318.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 44,392 shares of the company's stock valued at $47,000 after purchasing an additional 33,776 shares in the last quarter. 33.66% of the stock is owned by institutional investors.

About Solid Power

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.