Solid Power (NASDAQ:SLDP) Stock Price Down 6.6% - Here's What Happened

Key Points

• Solid Power's stock price fell 6.6% to $4.03 on Monday, with significantly increased trading volume of 8.4 million shares, which is 75% higher than its average.
• The company reported a quarterly earnings per share (EPS) of ($0.08), exceeding analyst estimates of ($0.14), along with a revenue of $6.02 million for the quarter.
• Recent insider trading includes the sale of over 100,000 shares by directors, indicating a 40% decrease in ownership for one director, raising potential concerns among investors.

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) was down 6.6% during mid-day trading on Monday . The company traded as low as $4.02 and last traded at $4.03. Approximately 8,419,269 shares changed hands during trading, an increase of 75% from the average daily volume of 4,820,037 shares. The stock had previously closed at $4.31.

Solid Power Price Performance

The firm's 50 day moving average price is $2.39 and its 200-day moving average price is $1.64. The stock has a market cap of $553.33 million, a P/E ratio of -6.03 and a beta of 1.75.

Solid Power (NASDAQ:SLDP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.08) earnings per share 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 firm had revenue of $6.02 million during the quarter, compared to analysts' expectations of $5.00 million.

Insiders Place Their Bets

In other Solid Power news, Director Lesa B. Roe sold 29,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 239,049 shares in the company, valued at $403,992.81. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven H. Goldberg sold 82,365 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was 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. This trade represents a 40.94% decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Solid Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLDP. Raymond James Financial Inc. purchased a new position in Solid Power during the fourth quarter valued at approximately $40,000. Vanguard Group Inc. increased its holdings in Solid Power by 12.3% during the fourth quarter. Vanguard Group Inc. now owns 8,353,470 shares of the company's stock valued at $15,788,000 after buying an additional 912,649 shares during the period. DnB Asset Management AS purchased a new position in Solid Power during the fourth quarter valued at approximately $192,000. Geode Capital Management LLC increased its holdings in Solid Power by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 3,559,922 shares of the company's stock valued at $6,729,000 after buying an additional 152,907 shares during the period. Finally, Invesco Ltd. increased 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 valued at $7,186,000 after buying an additional 342,114 shares during the period. Institutional investors own 33.66% of the company's stock.

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.