Solid Power, Inc. (NASDAQ:SLDP) Short Interest Down 16.7% in January

Solid Power, Inc. (NASDAQ:SLDP) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 19,280,000 shares, a decrease of 16.7% from the December 31st total of 23,150,000 shares. Based on an average daily trading volume, of 4,400,000 shares, the days-to-cover ratio is currently 4.4 days. Approximately 13.8% of the shares of the stock are short sold.

Solid Power Stock Performance

NASDAQ:SLDP remained flat at $1.39 during mid-day trading on Friday. The company’s stock had a trading volume of 2,901,898 shares, compared to its average volume of 4,447,596. The company has a market cap of $250.74 million, a PE ratio of -2.84 and a beta of 1.45. The stock’s fifty day moving average price is $1.48 and its two-hundred day moving average price is $1.42. Solid Power has a 12-month low of $1.00 and a 12-month high of $2.70.

Solid Power (NASDAQ:SLDP) last released its earnings results on Thursday, November 7th. The company reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $4.65 million during the quarter. Solid Power had a negative net margin of 471.22% and a negative return on equity of 18.08%.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “buy” rating and issued a $2.00 price objective on shares of Solid Power in a research report on Wednesday, January 15th.

Insider Buying and Selling at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were 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 of the company’s stock, valued at approximately $930,600.40. The trade was a 17.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 562,500 shares of company stock worth $793,125. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Belvedere Trading LLC acquired a new position in Solid Power during the fourth quarter valued at approximately $33,000. SG Americas Securities LLC raised its stake in shares of Solid Power by 205.5% in the 4th quarter. SG Americas Securities LLC now owns 182,685 shares of the company’s stock valued at $345,000 after acquiring an additional 122,888 shares during the period. Virtu Financial LLC acquired a new position in shares of Solid Power during the 3rd quarter valued at $195,000. Barclays PLC boosted its position in Solid Power by 268.4% during 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 during the period. Finally, Geode Capital Management LLC increased its holdings in Solid Power by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,407,015 shares of the company’s stock valued at $4,600,000 after purchasing an additional 88,754 shares in the last quarter. Institutional investors and hedge funds own 33.66% of the company’s stock.

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.