Solid Power (NASDAQ:SLDP) Stock Price Down 6.6% - Time to Sell?

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)'s share price traded down 6.6% on Monday . The stock traded as low as $4.02 and last traded at $4.03. 8,419,269 shares changed hands during trading, an increase of 75% from the average session volume of 4,820,037 shares. The stock had previously closed at $4.31.

Solid Power Stock Down 6.0%

The business's 50-day simple moving average is $2.23 and its 200-day simple moving average is $1.59. The stock has a market cap of $726.41 million, a PE ratio of -7.94 and a beta of 1.75.

Solid Power (NASDAQ:SLDP - Get Free Report) last announced 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 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 analysts' expectations of $5.00 million.

Insider Activity

In related news, Director Steven H. Goldberg sold 82,365 shares of the business's stock in a transaction dated 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 owned 118,808 shares in the company, valued at $192,468.96. The trade was a 40.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lesa B. Roe sold 29,000 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was 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 in the company, valued at $403,992.81. The trade was a 10.82% decrease in their position. The disclosure for this sale can be found here. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Solid Power

Several hedge funds have recently bought and sold shares of SLDP. MetLife Investment Management LLC lifted its position in Solid Power by 22.1% during the first quarter. MetLife Investment Management LLC now owns 73,184 shares of the company's stock valued at $77,000 after purchasing an additional 13,258 shares during the period. ProShare Advisors LLC increased its holdings in Solid Power by 50.6% during the fourth quarter. ProShare Advisors LLC now owns 43,589 shares of the company's stock valued at $82,000 after buying an additional 14,655 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Solid Power by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 67,987 shares of the company's stock valued at $129,000 after buying an additional 16,105 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Solid Power by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 395,414 shares of the company's stock valued at $415,000 after buying an additional 17,225 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Solid Power during the fourth quarter valued at approximately $34,000. 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.

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