Solid Power (NASDAQ:SLDP) Hits New 52-Week High – Here’s What Happened

Solid Power, Inc. (NASDAQ:SLDP) hit a new 52-week high on Friday . The company traded as high as $2.82 and last traded at $2.82, with a volume of 16900025 shares changing hands. The stock had previously closed at $1.95.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wolfe Research started coverage on Solid Power in a research note on Thursday, September 5th. They set an “underperform” rating and a $1.00 price objective on the stock. Needham & Company LLC dropped their target price on shares of Solid Power from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, November 11th.

Solid Power Stock Performance

The firm has a market cap of $384.23 million, a P/E ratio of -4.35 and a beta of 1.70. The firm has a fifty day moving average of $1.20 and a 200-day moving average of $1.42.

Insider Buying and Selling at Solid Power

In related news, Director Erik J. Anderson sold 506,283 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $1.27, for a total value of $642,979.41. Following the sale, the director now directly owns 187,617 shares in the company, valued at $238,273.59. This trade represents a 72.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction on Monday, December 16th. The shares were sold at an average price of $1.07, for a total value of $200,625.00. Following the sale, the chief technology officer now directly owns 869,720 shares in the company, valued at $930,600.40. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,068,783 shares of company stock worth $1,280,479. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Solid Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Solid Power by 10.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,154,464 shares of the company’s stock valued at $1,559,000 after purchasing an additional 106,380 shares during the period. Bank of New York Mellon Corp boosted its stake in Solid Power by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 577,634 shares of the company’s stock valued at $953,000 after buying an additional 108,847 shares in the last quarter. Silver Lake Advisory LLC acquired a new position in Solid Power during the second quarter worth about $69,000. Intech Investment Management LLC bought a new stake in Solid Power in the third quarter worth about $62,000. Finally, Aristides Capital LLC acquired a new stake in Solid Power in the 2nd quarter valued at about $160,000. 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.