Solid Power (NASDAQ:SLDP) Hits New 12-Month High – Should You Buy?

Solid Power, Inc. (NASDAQ:SLDP)’s stock price hit a new 52-week high during trading 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.

Analyst Ratings Changes

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

Solid Power Price Performance

The company has a market cap of $384.23 million, a PE ratio of -4.35 and a beta of 1.70. The stock has a fifty day moving average price of $1.20 and a 200-day moving average price of $1.42.

Insider Activity at Solid Power

In other Solid Power news, 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 transaction of $200,625.00. Following the completion of the sale, the chief technology officer now owns 869,720 shares of the company’s stock, valued at $930,600.40. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Erik J. Anderson sold 506,283 shares of Solid Power stock in a transaction on Tuesday, October 1st. The shares were 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 of the company’s stock, valued at approximately $238,273.59. The trade was a 72.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,068,783 shares of company stock valued at $1,280,479. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Solid Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Yaupon Capital Management LP lifted its position in Solid Power by 27.5% during the 3rd quarter. Yaupon Capital Management LP now owns 2,379,462 shares of the company’s stock worth $3,212,000 after acquiring an additional 513,689 shares during the last quarter. Barclays PLC increased its stake in shares of Solid Power by 268.4% in the third 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 period. Virtu Financial LLC acquired a new position in shares of Solid Power during the 3rd quarter worth about $195,000. Bank of New York Mellon Corp boosted its stake in Solid Power by 23.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 577,634 shares of the company’s stock valued at $953,000 after purchasing an additional 108,847 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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. Institutional investors and hedge funds own 33.66% of the company’s stock.

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.