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

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) shot up 16.7% on Friday . The company traded as high as $3.39 and last traded at $3.76. 2,343,705 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 3,479,772 shares. The stock had previously closed at $3.22.

Solid Power Price Performance

The company has a market capitalization of $677.98 million, a P/E ratio of -7.34 and a beta of 1.75. The stock's 50 day simple moving average is $1.96 and its two-hundred day simple moving average is $1.51.

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

Insider Buying and Selling

In related news, Director Lesa B. Roe sold 29,000 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 239,049 shares of the company's stock, valued at $403,992.81. The trade was a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven H. Goldberg sold 82,365 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1.62, for a total transaction 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 trade represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SLDP. Vanguard Group Inc. boosted its holdings in shares of Solid Power by 12.3% in 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. Invesco Ltd. boosted 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 holdings 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 during the last quarter. Geode Capital Management LLC boosted 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 worth $6,729,000 after purchasing an additional 152,907 shares during the last quarter. Finally, Pure Financial Advisors LLC acquired a new position in Solid Power during the second quarter worth $4,668,000. Institutional investors and hedge funds own 33.66% of the company's stock.

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.