Solid Power (NASDAQ:SLDP) Reaches New 1-Year High - Should You Buy?

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report)'s share price 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.

Analysts Set New Price Targets

A number of brokerages recently commented on SLDP. Needham & Company LLC reduced their price objective on shares of Solid Power from $3.00 to $2.00 and set a "buy" rating for the company in a research report on Monday, November 11th. Wolfe Research initiated coverage on Solid Power in a report on Thursday, September 5th. They issued an "underperform" rating and a $1.00 price target for the company.

Solid Power Stock Performance

The stock's fifty day moving average price is $1.20 and its 200-day moving average price is $1.42. The firm has a market cap of $384.23 million, a PE ratio of -4.35 and a beta of 1.70.

Insiders Place Their Bets

In other Solid Power news, CTO Joshua Buettner-Garrett sold 187,500 shares of the company's 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 sale, the chief technology officer now owns 869,720 shares of the company's stock, 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 is accessible through the SEC website. Also, Director Erik J. Anderson sold 506,283 shares of Solid Power stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $1.27, for a total value of $642,979.41. Following the transaction, the director now directly owns 187,617 shares of the company's stock, valued at $238,273.59. This trade represents a 72.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,068,783 shares of company stock worth $1,280,479. 7.20% of the stock is owned by company insiders.

Institutional Trading of Solid Power

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of Solid Power by 23.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 577,634 shares of the company's stock worth $953,000 after purchasing an additional 108,847 shares during the last quarter. American Century Companies Inc. purchased a new position in Solid Power during the second quarter worth $60,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Solid Power by 71.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 61,044 shares of the company's stock worth $101,000 after acquiring an additional 25,520 shares during the last quarter. Silver Lake Advisory LLC purchased a new stake in shares of Solid Power in the second quarter valued at $69,000. Finally, Aristides Capital LLC acquired a new stake in shares of Solid Power during the second quarter valued at $160,000. Hedge funds and other institutional investors own 33.66% of the company's stock.

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.