Erik Anderson Sells 30,000 Shares of Solid Power (NASDAQ:SLDP) Stock

Solid Power, Inc. (NASDAQ:SLDP) Director Erik Anderson sold 30,000 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $5.20, for a total value of $156,000.00. Following the transaction, the director directly owned 157,617 shares in the company, valued at $819,608.40. This represents a 15.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Solid Power Stock Performance

Shares of Solid Power stock opened at $5.30 on Wednesday. The stock has a market capitalization of $1.01 billion, a P/E ratio of -10.00 and a beta of 1.87. Solid Power, Inc. has a 52-week low of $0.68 and a 52-week high of $8.86. The stock’s 50-day simple moving average is $5.79 and its 200 day simple moving average is $4.11.

Solid Power (NASDAQ:SLDP) last issued its earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. Solid Power had a negative net margin of 429.55% and a negative return on equity of 24.88%. The firm had revenue of $4.56 million during the quarter, compared to analyst estimates of $3.50 million.

Hedge Funds Weigh In On Solid Power

A number of institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. raised its holdings in shares of Solid Power by 17.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 37,683 shares of the company’s stock valued at $131,000 after acquiring an additional 5,526 shares in the last quarter. Prudential Financial Inc. raised its stake in Solid Power by 69.7% in the second quarter. Prudential Financial Inc. now owns 17,480 shares of the company’s stock valued at $38,000 after purchasing an additional 7,180 shares in the last quarter. Osaic Holdings Inc. raised its stake in Solid Power by 9.0% in the second quarter. Osaic Holdings Inc. now owns 92,809 shares of the company’s stock valued at $203,000 after purchasing an additional 7,683 shares in the last quarter. Rhumbline Advisers lifted its position in Solid Power by 4.9% during the third quarter. Rhumbline Advisers now owns 206,452 shares of the company’s stock valued at $716,000 after purchasing an additional 9,675 shares during the last quarter. Finally, AlphaCore Capital LLC purchased a new position in Solid Power in the 3rd quarter worth approximately $35,000. 33.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on SLDP shares. Needham & Company LLC lifted their price objective on shares of Solid Power from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.00.

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.