Bank of New York Mellon Corp Acquires 108,847 Shares of Solid Power, Inc. (NASDAQ:SLDP)

Bank of New York Mellon Corp lifted its holdings in shares of Solid Power, Inc. (NASDAQ:SLDP) by 23.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 577,634 shares of the company’s stock after buying an additional 108,847 shares during the period. Bank of New York Mellon Corp owned approximately 0.33% of Solid Power worth $953,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Solid Power by 14.9% during the first quarter. Vanguard Group Inc. now owns 7,298,206 shares of the company’s stock valued at $14,815,000 after purchasing an additional 944,162 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Solid Power during the 1st quarter valued at $634,000. Quadrature Capital Ltd bought a new position in shares of Solid Power during the 4th quarter valued at $253,000. Virtu Financial LLC lifted its holdings in shares of Solid Power by 459.4% during the 4th quarter. Virtu Financial LLC now owns 164,236 shares of the company’s stock valued at $238,000 after buying an additional 134,875 shares during the period. Finally, Silver Lake Advisory LLC purchased a new position in shares of Solid Power in the 2nd quarter worth $69,000. 33.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Solid Power news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $1.21, for a total transaction of $226,875.00. Following the transaction, the chief technology officer now owns 874,136 shares of the company’s stock, valued at $1,057,704.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Steven H. Goldberg sold 59,197 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $1.45, for a total value of $85,835.65. Following the completion of the transaction, the director now owns 82,365 shares of the company’s stock, valued at $119,429.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Joshua Buettner-Garrett sold 187,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $1.21, for a total value of $226,875.00. Following the sale, the chief technology officer now owns 874,136 shares of the company’s stock, valued at approximately $1,057,704.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 649,597 shares of company stock worth $927,876. Company insiders own 7.20% of the company’s stock.

Solid Power Price Performance

NASDAQ:SLDP opened at $1.46 on Friday. Solid Power, Inc. has a one year low of $1.10 and a one year high of $2.35. The business has a fifty day moving average price of $1.57 and a 200-day moving average price of $1.65. The firm has a market capitalization of $258.49 million, a price-to-earnings ratio of -3.84 and a beta of 1.73.

Solid Power (NASDAQ:SLDP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Solid Power had a negative return on equity of 15.87% and a negative net margin of 393.42%. The company had revenue of $5.08 million during the quarter, compared to analysts’ expectations of $13.11 million. During the same quarter in the previous year, the company earned ($0.07) EPS.

Analysts Set New Price Targets

A number of analysts recently commented on SLDP shares. Needham & Company LLC reiterated a “buy” rating and set a $3.00 price objective on shares of Solid Power in a research report on Wednesday, August 7th. Wolfe Research began coverage on shares of Solid Power in a research report on Thursday, September 5th. They set an “underperform” rating and a $1.00 price target for the company.

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.