Solid Power (NASDAQ:SLDP) Sees Strong Trading Volume - What's Next?

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) saw an uptick in trading volume on Wednesday . 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 Stock Up 17.1%

The firm has a market capitalization 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 of $1.96 and a 200 day moving average of $1.52.

Solid Power (NASDAQ:SLDP - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.08) EPS for the quarter, beating 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 company had revenue of $6.02 million during the quarter, compared to the consensus estimate of $5.00 million.

Insider Activity at Solid Power

In other Solid Power news, Director Steven H. Goldberg sold 82,365 shares of the company'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 transaction, the director owned 118,808 shares of the company's stock, valued at approximately $192,468.96. This represents a 40.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lesa B. Roe sold 29,000 shares of Solid Power 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 transaction, the director owned 239,049 shares in the company, valued at approximately $403,992.81. The trade was a 10.82% 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

Several institutional investors and hedge funds have recently modified their holdings of SLDP. Cibc World Markets Corp bought a new stake in Solid Power in the fourth quarter worth $27,000. BNP Paribas Financial Markets bought a new stake in Solid Power in the fourth quarter worth $34,000. Raymond James Financial Inc. bought a new stake in Solid Power in the fourth quarter worth $40,000. ProShare Advisors LLC boosted its holdings in Solid Power by 50.6% in the fourth quarter. ProShare Advisors LLC now owns 43,589 shares of the company's stock worth $82,000 after purchasing an additional 14,655 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in 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 acquiring an additional 33,776 shares during the last quarter. 33.66% of the stock is currently owned by hedge funds and other 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.