Solid Power (NASDAQ:SLDP) Sees Large Volume Increase - Still a Buy?

Shares of Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 9,015,922 shares changed hands during trading, an increase of 126% from the previous session's volume of 3,997,336 shares.The stock last traded at $3.23 and had previously closed at $3.18.

Solid Power Trading Down 2.2%

The firm has a market cap of $557.81 million, a P/E ratio of -6.10 and a beta of 1.75. The firm has a 50-day simple moving average of $1.87 and a 200-day simple moving average of $1.50.

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%.

Insider Activity

In other Solid Power news, Director Lesa B. Roe sold 29,000 shares of the business'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 transaction of $49,010.00. Following the completion of the sale, the director directly owned 239,049 shares in the company, valued at approximately $403,992.81. The trade was a 10.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven H. Goldberg sold 82,365 shares of the business'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 value of $133,431.30. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Solid Power

Several large investors have recently bought and sold shares of the company. Cibc World Markets Corp acquired a new position in shares of Solid Power during the 4th quarter worth approximately $27,000. BNP Paribas Financial Markets acquired a new position in shares of Solid Power during the 4th quarter worth approximately $34,000. Raymond James Financial Inc. acquired a new position in shares of Solid Power during the 4th quarter worth approximately $40,000. SBI Securities Co. Ltd. boosted its holdings 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 worth $47,000 after purchasing an additional 33,776 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings 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 worth $77,000 after purchasing an additional 13,258 shares during the last quarter. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

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.