Solid Power (NASDAQ:SLDP) Shares Gap Down - Time to Sell?

Key Points

• Solid Power's stock price opened at $2.95 after gapping down from a previous close of $3.19, and last traded at $3.05 with a substantial volume of over 3 million shares.
• The company reported a quarterly earnings per share of ($0.08), surpassing the consensus estimate, alongside revenue of $6.02 million, which was higher than expected.
• Recent insider transactions included a significant 29,000 shares sale by Director Lesa B. Roe, along with other sales contributing to a notable decrease in insider ownership.

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $3.19, but opened at $2.95. Solid Power shares last traded at $3.05, with a volume of 3,044,240 shares changing hands.

Solid Power Stock Down 3.0%

The company has a fifty day simple moving average of $2.39 and a 200-day simple moving average of $1.64. The firm has a market cap of $555.12 million, a P/E ratio of -5.99 and a beta of 1.75.

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

Insider Transactions at Solid Power

In other news, Director Lesa B. Roe sold 29,000 shares of the company's stock in a transaction dated 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 owned 239,049 shares of the company's stock, valued at $403,992.81. This represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven H. Goldberg sold 82,365 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1.62, for a total value of $133,431.30. Following the completion of the transaction, the director directly owned 118,808 shares of the company's stock, valued at approximately $192,468.96. This trade represents 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

A number of institutional investors and hedge funds have recently made changes to their positions in SLDP. Vanguard Group Inc. lifted its position 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 acquiring an additional 912,649 shares during the period. Invesco Ltd. increased its stake in shares of Solid Power by 9.9% in the 4th quarter. Invesco Ltd. now owns 3,802,147 shares of the company's stock valued at $7,186,000 after purchasing an additional 342,114 shares in the last quarter. Yaupon Capital Management LP increased its stake in shares of Solid Power by 709.1% in the 1st quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company's stock valued at $3,738,000 after purchasing an additional 3,120,316 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Solid Power by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 3,559,922 shares of the company's stock valued at $6,729,000 after purchasing an additional 152,907 shares in the last quarter. Finally, Pure Financial Advisors LLC purchased a new stake in Solid Power during the 2nd quarter worth approximately $4,668,000. 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.

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