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

Solid Power, Inc. (NASDAQ:SLDP) was the target of some unusual options trading activity on Friday. Stock traders acquired 5,216 call options on the stock. This represents an increase of approximately 1,105% compared to the average volume of 433 call options.

Solid Power Stock Performance

SLDP traded up $0.20 during trading on Friday, reaching $2.15. 28,186,400 shares of the company traded hands, compared to its average volume of 2,529,335. Solid Power has a 12-month low of $1.00 and a 12-month high of $2.70. The firm has a fifty day simple moving average of $1.18 and a 200 day simple moving average of $1.42. The company has a market cap of $386.93 million, a P/E ratio of -4.38 and a beta of 1.70.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Needham & Company LLC cut their target price on Solid Power from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Wolfe Research started coverage on shares of Solid Power in a report on Thursday, September 5th. They set an “underperform” rating and a $1.00 price objective for the company.

Insider Activity at Solid Power

In other Solid Power news, CTO Joshua Buettner-Garrett sold 187,500 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1.07, for a total value of $200,625.00. Following the completion of the transaction, the chief technology officer now owns 869,720 shares in the company, valued at approximately $930,600.40. This represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Erik J. Anderson sold 506,283 shares of the company’s stock in a transaction dated 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 sale, the director now owns 187,617 shares in the company, valued at approximately $238,273.59. This trade represents a 72.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,068,783 shares of company stock worth $1,280,479 over the last quarter. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Solid Power

Several institutional investors have recently bought and sold shares of SLDP. Charles Schwab Investment Management Inc. raised its stake in Solid Power by 10.1% during the third 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in Solid Power by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 577,634 shares of the company’s stock worth $953,000 after buying an additional 108,847 shares during the period. Silver Lake Advisory LLC purchased a new stake in shares of Solid Power in the second quarter valued at $69,000. Aristides Capital LLC purchased a new stake in Solid Power in the 2nd quarter worth about $160,000. Finally, Intech Investment Management LLC purchased a new position in shares of Solid Power during the third quarter valued at approximately $62,000. 33.66% of the stock is 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.