Solid Power (NASDAQ:SLDP) Shares Gap Down - Here's Why

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 traded.

Solid Power Price Performance

The company's 50-day moving average price is $1.96 and its 200-day moving average price is $1.51. The company has a market cap of $707.58 million, a P/E ratio of -7.75 and a beta of 1.75.

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

Insider Activity

In related news, Director Lesa B. Roe sold 29,000 shares of Solid Power 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 sale, the director directly owned 239,049 shares of the company's stock, valued at approximately $403,992.81. The trade was a 10.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven H. Goldberg sold 82,365 shares of Solid Power stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1.62, for a total transaction of $133,431.30. Following the sale, the director owned 118,808 shares in the company, valued at approximately $192,468.96. This represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Solid Power by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,561 shares of the company's stock valued at $2,199,000 after purchasing an additional 9,097 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Solid Power in the 4th quarter worth $40,000. Cibc World Markets Corp bought a new stake in shares of Solid Power in the 4th quarter worth $27,000. Vanguard Group Inc. grew its stake in shares of Solid Power by 12.3% in the 4th quarter. Vanguard Group Inc. now owns 8,353,470 shares of the company's stock worth $15,788,000 after acquiring an additional 912,649 shares in the last quarter. Finally, DnB Asset Management AS bought a new stake in shares of Solid Power in the 4th quarter worth $192,000. Institutional investors and hedge funds own 33.66% of the company's stock.

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.

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