Solid Power (NASDAQ:SLDP) Shares Gap Down - Should You Sell?

Shares of Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $3.73, but opened at $3.52. Solid Power shares last traded at $3.79, with a volume of 6,288,093 shares trading hands.

Solid Power Price Performance

The firm has a market cap of $746.68 million, a PE ratio of -8.16 and a beta of 1.75. The stock has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $1.58.

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. Solid Power had a negative net margin of 447.80% and a negative return on equity of 21.24%. The company had revenue of $6.02 million for the quarter, compared to the consensus estimate of $5.00 million.

Insider Transactions at Solid Power

In other news, Director Steven H. Goldberg sold 82,365 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1.62, for a total transaction of $133,431.30. Following the completion of the sale, the director owned 118,808 shares of the company's stock, valued at $192,468.96. The trade was a 40.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the director directly owned 239,049 shares in the company, 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 4.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SLDP. Gainplan LLC bought a new stake in Solid Power during the 2nd quarter worth approximately $46,000. MBL Wealth LLC purchased a new position in shares of Solid Power during the 2nd quarter valued at $591,000. Pure Financial Advisors LLC bought a new position in Solid Power in the 2nd quarter worth $4,668,000. Goldman Sachs Group Inc. increased its stake in Solid Power by 12.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company's stock worth $939,000 after buying an additional 100,939 shares in the last quarter. Finally, Yaupon Capital Management LP raised its holdings in Solid Power by 709.1% during the first quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company's stock valued at $3,738,000 after acquiring an additional 3,120,316 shares during the period. 33.66% of the stock is 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.