Solid Power Sees Unusually High Options Volume (NASDAQ:SLDP)

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) was the target of some unusual options trading activity on Tuesday. Traders acquired 2,249 call options on the company. This represents an increase of approximately 178% compared to the average volume of 808 call options.

Solid Power Trading Up 19.1%

Shares of NASDAQ SLDP traded up $0.51 during trading hours on Tuesday, reaching $3.18. The stock had a trading volume of 17,864,792 shares, compared to its average volume of 3,345,270. The business's fifty day moving average price is $1.79 and its two-hundred day moving average price is $1.48. The firm has a market cap of $570.36 million, a price-to-earnings ratio of -6.24 and a beta of 1.75. Solid Power has a 52-week low of $0.68 and a 52-week high of $3.24.

Solid Power (NASDAQ:SLDP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.06. Solid Power had a negative return on equity of 21.24% and a negative net margin of 447.80%. The firm had revenue of $6.02 million for the quarter, compared to analyst estimates of $5.00 million.

Insiders Place Their Bets

In other news, Director Lesa B. Roe sold 29,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $1.69, for a total value of $49,010.00. Following the completion of the sale, the director owned 239,049 shares in the company, valued at approximately $403,992.81. This trade represents a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven H. Goldberg sold 82,365 shares of the 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 directly owned 118,808 shares in the company, valued at $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.

Hedge Funds Weigh In On Solid Power

Several institutional investors have recently bought and sold shares of SLDP. Yaupon Capital Management LP lifted its position 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 valued at $3,738,000 after acquiring an additional 3,120,316 shares during the last quarter. Vanguard Group Inc. increased its stake in Solid Power by 12.3% during the 4th quarter. Vanguard Group Inc. now owns 8,353,470 shares of the company's stock valued at $15,788,000 after purchasing an additional 912,649 shares in the last quarter. Nuveen LLC purchased a new position in shares of Solid Power in the first quarter worth $590,000. Bridgeway Capital Management LLC acquired a new stake in shares of Solid Power during the fourth quarter worth $662,000. Finally, Invesco Ltd. increased its holdings in shares of Solid Power by 9.9% in the fourth quarter. Invesco Ltd. now owns 3,802,147 shares of the company's stock valued at $7,186,000 after purchasing an additional 342,114 shares during the period. 33.66% of the stock is owned by hedge funds and other institutional investors.

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.