Solid Power (NASDAQ:SLDP) Sets New 52-Week High - Time to Buy?

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) hit a new 52-week high during mid-day 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 Stock Performance

The stock's 50 day moving average price is $2.11 and its 200 day moving average price is $1.56. The company has a market capitalization of $775.73 million, a P/E ratio of -8.48 and a beta of 1.75.

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

Insider Buying and Selling at Solid Power

In related news, Director Steven H. Goldberg sold 82,365 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1.62, for a total transaction of $133,431.30. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lesa B. Roe sold 29,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $1.69, for a total value of $49,010.00. Following the sale, the director directly owned 239,049 shares of the company's stock, valued at $403,992.81. This represents a 10.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Solid Power

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Solid Power by 12.3% during 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 period. Invesco Ltd. grew its stake in Solid Power by 9.9% during the fourth quarter. Invesco Ltd. now owns 3,802,147 shares of the company's stock worth $7,186,000 after purchasing an additional 342,114 shares during the period. Yaupon Capital Management LP grew its stake in Solid Power by 709.1% during the first quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company's stock worth $3,738,000 after purchasing an additional 3,120,316 shares during the period. Geode Capital Management LLC grew its stake in Solid Power by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 3,559,922 shares of the company's stock worth $6,729,000 after purchasing an additional 152,907 shares during the period. Finally, Pure Financial Advisors LLC acquired a new stake in Solid Power during the second quarter worth approximately $4,668,000. Institutional investors and hedge funds own 33.66% of the company's stock.

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.