Solid Power (NASDAQ:SLDP) Sets New 1-Year High - Here's Why

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $3.16 and last traded at $3.07, with a volume of 6079232 shares trading hands. The stock had previously closed at $2.67.

Solid Power Trading Up 17.1%

The stock has a market cap of $676.19 million, a price-to-earnings ratio of -7.39 and a beta of 1.75. The stock has a 50-day moving average price of $1.96 and a two-hundred day moving average price of $1.52.

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 analysts' consensus estimates of ($0.14) by $0.06. The firm had revenue of $6.02 million during the quarter, compared to analysts' expectations of $5.00 million. Solid Power had a negative return on equity of 21.24% and a negative net margin of 447.80%.

Insiders Place Their Bets

In related news, Director Steven H. Goldberg sold 82,365 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1.62, for a total value of $133,431.30. Following the completion of the transaction, the director owned 118,808 shares in the company, valued at $192,468.96. This trade represents a 40.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lesa B. Roe sold 29,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director owned 239,049 shares of the company's stock, valued at $403,992.81. This trade represents a 10.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On Solid Power

Institutional investors have recently modified their holdings of the stock. Cibc World Markets Corp acquired a new stake in shares of Solid Power during the 4th quarter valued at about $27,000. BNP Paribas Financial Markets acquired a new stake in shares of Solid Power during the 4th quarter valued at about $34,000. Raymond James Financial Inc. acquired a new stake in shares of Solid Power during the 4th quarter valued at about $40,000. SBI Securities Co. Ltd. grew its position in shares of 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 acquiring an additional 33,776 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of Solid Power by 22.1% during the 1st quarter. MetLife Investment Management LLC now owns 73,184 shares of the company's stock valued at $77,000 after acquiring an additional 13,258 shares during the period. Hedge funds and other institutional investors own 33.66% of the company's stock.

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.