Solid Power (NASDAQ:SLDP) Sets New 52-Week High - Should You Buy?

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

Solid Power Price Performance

The business has a 50 day moving average price of $1.87 and a 200 day moving average price of $1.50. The stock has a market capitalization of $571.27 million, a PE ratio of -6.21 and a beta of 1.75.

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

Insider Buying and Selling

In other news, Director Lesa B. Roe sold 29,000 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $1.69, for a total transaction of $49,010.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven H. Goldberg sold 82,365 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1.62, for a total value of $133,431.30. Following the sale, the director directly owned 118,808 shares in the company, 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. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Solid Power

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in shares of Solid Power by 14.8% in the fourth quarter. Bank of America Corp DE now owns 241,764 shares of the company's stock worth $457,000 after acquiring an additional 31,203 shares during the period. Vanguard Group Inc. grew its position in Solid Power by 12.3% in the 4th 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. Millennium Management LLC raised its stake in Solid Power by 21.2% during the 4th quarter. Millennium Management LLC now owns 1,401,680 shares of the company's stock valued at $2,649,000 after buying an additional 244,738 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in Solid Power during the 4th quarter valued at $662,000. Finally, Northern Trust Corp lifted its holdings in shares of Solid Power by 7.4% during the 4th quarter. Northern Trust Corp now owns 1,283,424 shares of the company's stock valued at $2,426,000 after buying an additional 88,563 shares during the period. Institutional investors 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.