Lesa Roe Sells 39,207 Shares of Solid Power (NASDAQ:SLDP) Stock

Solid Power, Inc. (NASDAQ:SLDP) Director Lesa Roe sold 39,207 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $2.66, for a total transaction of $104,290.62. Following the transaction, the director owned 243,975 shares in the company, valued at $648,973.50. This represents a 13.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Solid Power Stock Performance

Shares of NASDAQ:SLDP traded up $0.20 during trading on Thursday, reaching $2.97. 5,503,698 shares of the stock traded hands, compared to its average volume of 6,041,010. The stock has a market cap of $668.19 million, a P/E ratio of -6.19 and a beta of 1.91. The stock has a 50-day moving average of $3.15 and a two-hundred day moving average of $4.25. Solid Power, Inc. has a 52-week low of $1.27 and a 52-week high of $8.86.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.06. The business had revenue of $3.07 million during the quarter, compared to analyst estimates of $3.33 million. Solid Power had a negative return on equity of 21.57% and a negative net margin of 485.47%. Sell-side analysts expect that Solid Power, Inc. will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Solid Power

Several institutional investors have recently made changes to their positions in SLDP. Amundi purchased a new stake in shares of Solid Power in the 1st quarter worth about $32,000. Walleye Capital LLC increased its position in Solid Power by 118.7% during the 1st quarter. Walleye Capital LLC now owns 67,190 shares of the company’s stock worth $202,000 after purchasing an additional 36,470 shares in the last quarter. First Trust Advisors LP increased its position in shares of Solid Power by 14.4% during the first quarter. First Trust Advisors LP now owns 42,448 shares of the company’s stock worth $127,000 after acquiring an additional 5,353 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Solid Power by 87.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,618,519 shares of the company’s stock worth $10,852,000 after buying an additional 1,683,866 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Solid Power by 4.9% during the first quarter. Bank of New York Mellon Corp now owns 450,866 shares of the company’s stock worth $1,353,000 after purchasing an additional 21,117 shares during the last quarter. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLDP has been the subject of several recent research reports. Zacks Research upgraded shares of Solid Power to a “hold” rating in a report on Tuesday, March 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Power in a research report on Tuesday, April 21st. HC Wainwright initiated coverage on shares of Solid Power in a research report on Monday, March 16th. They set a “buy” rating and a $7.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Solid Power in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.00.

About Solid Power

Solid Power, Inc (NASDAQ: SLDP) is a Colorado-based company specializing in the development and manufacturing of all-solid-state rechargeable battery cells for the electric vehicle (EV) and aerospace industries. Founded in 2012 as a spin-out from the University of Colorado Boulder, Solid Power has focused on advancing solid electrolytes and high-energy battery architectures to deliver improved safety, higher energy density and longer cycle life compared with traditional lithium-ion batteries.

The company’s core offerings include multilayer solid-state battery cells that utilize sulfide-based solid electrolytes and high-capacity cathode materials.