Solid Power (NASDAQ:SLDP) Sees Unusually-High Trading Volume - Here's Why

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) shares saw an uptick in trading volume on Thursday . Approximately 11,487,100 shares were traded during mid-day 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 Stock Up 8.3%

The stock has a market cap of $773.04 million, a P/E ratio of -8.45 and a beta of 1.75. The business has a 50-day simple moving average of $2.11 and a 200-day simple moving average of $1.56.

Solid Power (NASDAQ:SLDP - Get Free Report) last released its earnings results 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. 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 for the quarter, compared to the consensus estimate of $5.00 million.

Insider Activity

In other news, Director Lesa B. Roe sold 29,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $1.69, for a total transaction 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 trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven H. Goldberg sold 82,365 shares of Solid Power 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 completion of the transaction, the director owned 118,808 shares of the company's stock, valued at approximately $192,468.96. The trade was a 40.94% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Solid Power by 12.3% during the 4th quarter. Vanguard Group Inc. now owns 8,353,470 shares of the company's stock worth $15,788,000 after buying an additional 912,649 shares in the last quarter. Invesco Ltd. grew its position in shares of Solid Power by 9.9% during the 4th quarter. Invesco Ltd. now owns 3,802,147 shares of the company's stock worth $7,186,000 after buying an additional 342,114 shares during the period. Yaupon Capital Management LP raised its holdings in Solid Power by 709.1% in 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 lifted its holdings 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 acquiring an additional 152,907 shares in the last quarter. Finally, Pure Financial Advisors LLC bought a new stake in shares of Solid Power in the second quarter worth about $4,668,000. Institutional investors and hedge funds 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.

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