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

Key Points

• Solid Power, Inc. experienced a significant surge in options trading, with investors purchasing 8,646 call options, marking a 91% increase from its average volume.
• Institutional investors have been actively buying shares, with companies like MBL Wealth and Pure Financial Advisors each investing substantial amounts, contributing to the 33.66% institutional ownership of the stock.
• The company's stock price recently rose to $5.79 while having a market cap of $1.05 billion, despite a negative EPS of ($0.14) that fell short of analysts' expectations.

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) saw unusually large options trading on Tuesday. Stock investors purchased 8,646 call options on the company. This represents an increase of approximately 91% compared to the average volume of 4,516 call options.

Hedge Funds Weigh In On Solid Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. MBL Wealth LLC purchased a new position in Solid Power in the 2nd quarter worth approximately $591,000. Virtu Financial LLC bought a new position in shares of Solid Power in the first quarter worth approximately $96,000. Pure Financial Advisors LLC purchased a new position in shares of Solid Power in the second quarter worth $4,668,000. Bank of America Corp DE raised its holdings in Solid Power by 14.8% during the 4th quarter. Bank of America Corp DE now owns 241,764 shares of the company's stock valued at $457,000 after buying an additional 31,203 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Solid Power by 12.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company's stock valued at $939,000 after buying an additional 100,939 shares during the period. 33.66% of the stock is currently owned by institutional investors.

Solid Power Trading Up 0.3%

Shares of SLDP traded up $0.02 during mid-day trading on Tuesday, reaching $5.79. The company's stock had a trading volume of 10,443,667 shares, compared to its average volume of 6,589,165. Solid Power has a 52 week low of $0.68 and a 52 week high of $6.30. The stock has a market cap of $1.05 billion, a PE ratio of -11.18 and a beta of 1.77. The company's fifty day moving average price is $4.07 and its two-hundred day moving average price is $2.56.

Solid Power (NASDAQ:SLDP - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). Solid Power had a negative return on equity of 23.13% and a negative net margin of 412.62%.The business had revenue of $6.49 million during the quarter, compared to analysts' expectations of $5.00 million.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Solid Power in a research note on Saturday, September 27th. Needham & Company LLC lifted their price target on Solid Power from $2.00 to $4.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.00.

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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