Solid Power (NASDAQ:SLDP) Trading Down 7.3% - Time to Sell?

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) was down 7.3% during trading on Monday . The company traded as low as $2.22 and last traded at $2.28. Approximately 8,259,073 shares changed hands during mid-day trading, an increase of 159% from the average daily volume of 3,185,149 shares. The stock had previously closed at $2.46.

Solid Power Stock Performance

The stock's 50-day moving average is $1.73 and its 200 day moving average is $1.47. The stock has a market capitalization of $446.61 million, a PE ratio of -4.88 and a beta of 1.75.

Solid Power (NASDAQ:SLDP - Get Free Report) last posted 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 firm had revenue of $6.02 million for the quarter, compared to the consensus estimate of $5.00 million. Solid Power had a negative net margin of 447.80% and a negative return on equity of 21.24%.

Insiders Place Their Bets

In other news, Director Lesa B. Roe sold 29,000 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $1.69, for a total value of $49,010.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, Director Steven H. Goldberg sold 82,365 shares of Solid Power 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 completion of the sale, the director directly owned 118,808 shares of the company's stock, valued at $192,468.96. The trade was a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Solid Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in Solid Power by 12.7% in the first quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company's stock valued at $939,000 after purchasing an additional 100,939 shares during the period. Yaupon Capital Management LP lifted its position in shares of 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. MetLife Investment Management LLC raised its holdings in Solid Power by 22.1% in the first quarter. MetLife Investment Management LLC now owns 73,184 shares of the company's stock valued at $77,000 after acquiring an additional 13,258 shares in the last quarter. Nuveen LLC bought a new stake in Solid Power during the first quarter valued at $590,000. Finally, Virtu Financial LLC bought a new stake in shares of Solid Power during the 1st quarter valued at about $96,000. Hedge funds and other institutional investors 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.