Solid Power (NASDAQ:SLDP) Stock Price Up 16.7% - Here's Why

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report)'s stock price rose 16.7% on Friday . The stock traded as high as $3.39 and last traded at $3.76. Approximately 2,343,705 shares were traded during trading, a decline of 33% from the average daily volume of 3,479,772 shares. The stock had previously closed at $3.22.

Solid Power Stock Performance

The firm has a market cap of $676.19 million, a PE ratio of -7.39 and a beta of 1.75. The firm's 50-day moving average price is $1.96 and its two-hundred day moving average price is $1.52.

Solid Power (NASDAQ:SLDP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.08) earnings per share 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 the consensus estimate of $5.00 million.

Insider Buying and Selling at Solid Power

In related news, Director Steven H. Goldberg sold 82,365 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1.62, for a total value of $133,431.30. Following the sale, the director directly owned 118,808 shares of the company's stock, valued at approximately $192,468.96. This represents a 40.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lesa B. Roe sold 29,000 shares of the 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 directly owned 239,049 shares in the company, valued at approximately $403,992.81. The trade was a 10.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Solid Power

Several hedge funds have recently modified their holdings of SLDP. Pure Financial Advisors LLC purchased a new position in shares of Solid Power in the second quarter valued at $4,668,000. Goldman Sachs Group Inc. increased its stake in Solid Power by 12.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company's stock worth $939,000 after buying an additional 100,939 shares during the period. Yaupon Capital Management LP increased its stake in Solid Power by 709.1% during the 1st quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company's stock worth $3,738,000 after buying an additional 3,120,316 shares during the period. MetLife Investment Management LLC increased its stake in Solid Power by 22.1% during the 1st quarter. MetLife Investment Management LLC now owns 73,184 shares of the company's stock worth $77,000 after buying an additional 13,258 shares during the period. Finally, Nuveen LLC purchased a new stake in Solid Power during the 1st quarter worth $590,000. 33.66% of the stock is owned by institutional investors and hedge funds.

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.