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

Shares of Solid Power, Inc. (NASDAQ:SLDP) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $2.82 and last traded at $2.82, with a volume of 16900025 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

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

Solid Power Price Performance

The company has a market capitalization of $456.22 million, a PE ratio of -5.16 and a beta of 1.70. The business has a 50-day moving average of $1.18 and a 200 day moving average of $1.42.

Insider Activity

In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $1.07, for a total transaction of $200,625.00. Following the sale, the chief technology officer now directly owns 869,720 shares in the company, valued at approximately $930,600.40. This represents a 17.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erik J. Anderson sold 506,283 shares of the stock in a transaction dated Tuesday, October 1st. The shares were 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 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. In the last ninety days, insiders sold 1,068,783 shares of company stock worth $1,280,479. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Solid Power

Large investors have recently added to or reduced their stakes in the stock. Yaupon Capital Management LP boosted its holdings in shares of Solid Power by 27.5% in the 3rd quarter. Yaupon Capital Management LP now owns 2,379,462 shares of the company’s stock worth $3,212,000 after purchasing an additional 513,689 shares during the period. Barclays PLC lifted its position in 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 buying an additional 146,157 shares during the last quarter. Virtu Financial LLC purchased a new position in Solid Power during the third quarter worth $195,000. Bank of New York Mellon Corp increased its position 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 valued at $953,000 after acquiring an additional 108,847 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 valued at $1,559,000 after acquiring an additional 106,380 shares during the period. 33.66% of the stock is owned by institutional investors.

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.