Solid Power (NASDAQ:SLDP) Shares Gap Down - What's Next?

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) shares gapped down prior to trading 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 trading hands.

Solid Power Price Performance

The company has a market cap of $649.29 million, a price-to-earnings ratio of -7.10 and a beta of 1.79. The firm's 50 day simple moving average is $2.46 and its 200-day simple moving average is $1.66.

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, beating analysts' consensus estimates of ($0.14) by $0.06. The business had revenue of $6.02 million for the quarter, compared to analysts' expectations of $5.00 million. Solid Power had a negative net margin of 447.80% and a negative return on equity of 21.24%.

Insider Transactions at Solid Power

In other news, Director Steven H. Goldberg sold 82,365 shares of the company'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 transaction, the director directly owned 118,808 shares of the company's stock, valued at $192,468.96. This represents a 40.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lesa B. Roe sold 29,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $1.69, for a total transaction of $49,010.00. Following the completion of the sale, the director owned 239,049 shares of the company's stock, valued at $403,992.81. This trade represents a 10.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SLDP. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Invesco Ltd. raised its holdings in Solid Power by 9.9% during the fourth quarter. Invesco Ltd. now owns 3,802,147 shares of the company's stock worth $7,186,000 after purchasing an additional 342,114 shares during the last quarter. Yaupon Capital Management LP boosted its position 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 worth $3,738,000 after purchasing an additional 3,120,316 shares in the last quarter. Geode Capital Management LLC grew its holdings in Solid Power by 4.5% in the fourth 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 during the last quarter. Finally, Pure Financial Advisors LLC purchased a new position in shares of Solid Power in the second quarter valued at $4,668,000. 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.