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

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 19,280,000 shares, a decline of 16.7% from the December 31st total of 23,150,000 shares. Currently, 13.8% of the company's stock are short sold. Based on an average trading volume of 4,400,000 shares, the days-to-cover ratio is presently 4.4 days.

Insiders Place Their Bets

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction on Monday, January 6th. The stock was sold at an average price of $2.09, for a total value of $391,875.00. Following the completion of the sale, the chief technology officer now owns 865,304 shares of the company's stock, valued at $1,808,485.36. The trade was a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 562,500 shares of company stock valued at $793,125. 7.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLDP. Geode Capital Management LLC grew its holdings in Solid Power by 2.7% during the third quarter. Geode Capital Management LLC now owns 3,407,015 shares of the company's stock worth $4,600,000 after acquiring an additional 88,754 shares during the period. State Street Corp grew its holdings in Solid Power by 0.7% during the third quarter. State Street Corp now owns 2,962,235 shares of the company's stock worth $3,999,000 after acquiring an additional 19,209 shares during the period. Yaupon Capital Management LP grew its holdings in Solid Power by 27.5% during the third quarter. Yaupon Capital Management LP now owns 2,379,462 shares of the company's stock worth $3,212,000 after acquiring an additional 513,689 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 worth $1,559,000 after acquiring an additional 106,380 shares during the period. Finally, Barclays PLC grew its holdings in Solid Power by 268.4% during the third quarter. Barclays PLC now owns 200,619 shares of the company's stock worth $271,000 after acquiring an additional 146,157 shares during the period. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Solid Power Price Performance

Solid Power stock traded up $0.01 during midday trading on Wednesday, reaching $1.39. The company's stock had a trading volume of 1,735,213 shares, compared to its average volume of 4,373,978. The stock's 50-day simple moving average is $1.49 and its 200-day simple moving average is $1.40. Solid Power has a 52-week low of $1.00 and a 52-week high of $2.70. The stock has a market capitalization of $249.84 million, a P/E ratio of -2.83 and a beta of 1.41.

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

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.