Solid Power, Inc. (NASDAQ:SLDP) Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Solid Power, Inc. (NASDAQ:SLDP) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 378,189 shares of the company’s stock after selling 75,832 shares during the quarter. Bank of New York Mellon Corp owned 0.21% of Solid Power worth $715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Belvedere Trading LLC acquired a new position in shares of Solid Power in the fourth quarter worth $33,000. Intech Investment Management LLC acquired a new stake in Solid Power during the third quarter valued at $62,000. Virtu Financial LLC purchased a new position in Solid Power in the third quarter valued at about $195,000. Barclays PLC increased its position in Solid Power by 268.4% in the 3rd quarter. Barclays PLC now owns 200,619 shares of the company’s stock worth $271,000 after purchasing an additional 146,157 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Solid Power by 205.5% during the 4th quarter. SG Americas Securities LLC now owns 182,685 shares of the company’s stock worth $345,000 after purchasing an additional 122,888 shares in the last quarter. Hedge funds and other institutional investors own 33.66% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “buy” rating and set a $2.00 price target on shares of Solid Power in a report on Wednesday, January 15th.

Solid Power Stock Down 2.7 %

Shares of SLDP opened at $1.09 on Thursday. The firm has a market cap of $198.37 million, a price-to-earnings ratio of -2.22 and a beta of 1.42. The company’s fifty day moving average is $1.30 and its 200-day moving average is $1.32. Solid Power, Inc. has a 12 month low of $1.00 and a 12 month high of $2.70.

Solid Power (NASDAQ:SLDP) last posted its earnings results on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.04). Solid Power had a negative return on equity of 18.08% and a negative net margin of 471.22%. The business had revenue of $4.46 million for the quarter, compared to analyst estimates of $3.85 million.

Insider Activity

In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $1.13, for a total value of $211,875.00. Following the completion of the sale, the chief technology officer now directly owns 865,304 shares in the company, valued at approximately $977,793.52. The trade was a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.20% of the stock is currently owned by insiders.

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.