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

Solid Power, Inc. (NASDAQ:SLDP) saw some unusual options trading on Tuesday. Investors bought 2,249 call options on the company. This represents an increase of approximately 178% compared to the typical volume of 808 call options.

Solid Power Trading Down 2.2%

NASDAQ SLDP opened at $3.11 on Thursday. Solid Power has a 1 year low of $0.68 and a 1 year high of $3.32. The company has a market cap of $557.81 million, a PE ratio of -6.10 and a beta of 1.75. The stock’s 50-day moving average price is $1.87 and its two-hundred day moving average price is $1.50.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.06. The business had revenue of $6.02 million for the quarter, compared to analyst estimates of $5.00 million. Solid Power had a negative net margin of 447.80% and a negative return on equity of 21.24%.

Insiders Place Their Bets

In other news, Director Steven H. Goldberg sold 82,365 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1.62, for a total transaction of $133,431.30. Following the completion of the sale, the director directly owned 118,808 shares of the company’s stock, valued at $192,468.96. This represents a 40.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lesa B. Roe sold 29,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $1.69, for a total value of $49,010.00. Following the completion of the transaction, the director owned 239,049 shares of the company’s stock, valued at $403,992.81. This trade represents a 10.82% decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Solid Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Yaupon Capital Management LP grew its holdings in shares of Solid Power by 709.1% during the first quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company’s stock valued at $3,738,000 after buying an additional 3,120,316 shares in the last quarter. Vanguard Group Inc. boosted its position in Solid Power by 12.3% during the 4th quarter. Vanguard Group Inc. now owns 8,353,470 shares of the company’s stock worth $15,788,000 after acquiring an additional 912,649 shares during the period. Nuveen LLC purchased a new position in Solid Power during the 1st quarter valued at about $590,000. Bridgeway Capital Management LLC acquired a new position in shares of Solid Power in the 4th quarter valued at about $662,000. Finally, Invesco Ltd. lifted its position in shares of Solid Power by 9.9% in the fourth quarter. Invesco Ltd. now owns 3,802,147 shares of the company’s stock worth $7,186,000 after purchasing an additional 342,114 shares in the last quarter. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

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.