Solid Power Sees Unusually High Options Volume (NASDAQ:SLDP)

Solid Power, Inc. (NASDAQ:SLDP) saw unusually large options trading activity on Friday. Traders acquired 5,216 call options on the company. This represents an increase of 1,105% compared to the average daily volume of 433 call options.

Analyst Upgrades and Downgrades

SLDP has been the subject of several research analyst reports. Wolfe Research initiated coverage on shares of Solid Power in a report on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price objective for the company. Needham & Company LLC lowered their target price on Solid Power from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Monday, November 11th.

Solid Power Stock Performance

Shares of SLDP opened at $2.13 on Friday. The firm’s 50-day simple moving average is $1.20 and its two-hundred day simple moving average is $1.42. Solid Power has a fifty-two week low of $1.00 and a fifty-two week high of $2.70. The stock has a market cap of $384.23 million, a PE ratio of -4.35 and a beta of 1.70.

Insider Transactions at Solid Power

In related news, Director Erik J. Anderson sold 506,283 shares of the company’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 transaction of $642,979.41. Following the completion of the transaction, the director now owns 187,617 shares in the company, valued at $238,273.59. This represents a 72.96 % decrease in their ownership of the stock. The sale 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 the business’s 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 transaction, the chief technology officer now directly owns 869,720 shares in the company, valued at approximately $930,600.40. The trade was a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,068,783 shares of company stock worth $1,280,479. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Yaupon Capital Management LP boosted its holdings in Solid Power by 27.5% in the third 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 in the last quarter. Barclays PLC boosted its stake 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 in the last quarter. Virtu Financial LLC purchased a new stake in Solid Power during the 3rd quarter valued at about $195,000. Bank of New York Mellon Corp increased 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Solid Power by 10.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,154,464 shares of the company’s stock worth $1,559,000 after buying an additional 106,380 shares in the last quarter. Institutional investors 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.