Solid Power (NASDAQ:SLDP) Sees Strong Trading Volume - Time to Buy?

Shares of Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 11,487,100 shares traded hands during trading, an increase of 145% from the previous session's volume of 4,696,923 shares.The stock last traded at $4.68 and had previously closed at $3.98.

Solid Power Price Performance

The stock has a market capitalization of $726.41 million, a P/E ratio of -7.94 and a beta of 1.75. The firm's 50 day moving average price is $2.28 and its 200 day moving average price is $1.60.

Solid Power (NASDAQ:SLDP - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.08) 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 business had revenue of $6.02 million during the quarter, compared to analyst estimates of $5.00 million.

Insiders Place Their Bets

In related news, Director Steven H. Goldberg sold 82,365 shares of the stock in a transaction dated Tuesday, May 27th. The shares were 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 of the company's stock, valued at approximately $192,468.96. This trade represents a 40.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the director owned 239,049 shares of the company's stock, valued at approximately $403,992.81. This represents a 10.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.20% of the company's stock.

Institutional Trading of Solid Power

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in 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. Gainplan LLC acquired a new stake in Solid Power in the second quarter valued at approximately $46,000. SBI Securities Co. Ltd. grew its position in shares of Solid Power by 318.2% in the first 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 during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Solid Power by 22.1% in the first quarter. MetLife Investment Management LLC now owns 73,184 shares of the company's stock worth $77,000 after acquiring an additional 13,258 shares during the last quarter. 33.66% of the stock is currently 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.