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

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) saw some unusual options trading on Friday. Traders purchased 5,216 call options on the stock. This is an increase of approximately 1,105% compared to the typical volume of 433 call options.

Analysts Set New Price Targets

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

Insider Activity at Solid Power

In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction on Monday, October 7th. The shares were sold at an average price of $1.26, for a total transaction of $236,250.00. Following the completion of the sale, the chief technology officer now directly owns 869,720 shares of the company's stock, valued at approximately $1,095,847.20. The trade was a 17.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erik J. Anderson sold 506,283 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $1.27, for a total value of $642,979.41. Following the completion of the transaction, the director now directly owns 187,617 shares in the company, valued at approximately $238,273.59. This represents a 72.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,068,783 shares of company stock valued at $1,280,479. Company insiders own 7.20% of the company's stock.

Institutional Trading of Solid Power

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of Solid Power by 2.7% in the 3rd 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 in the last quarter. State Street Corp grew its stake in Solid Power by 0.7% in the third quarter. State Street Corp now owns 2,962,235 shares of the company's stock worth $3,999,000 after purchasing an additional 19,209 shares during the period. Yaupon Capital Management LP raised its holdings in Solid Power by 27.5% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 106,380 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings 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 valued at $953,000 after buying an additional 108,847 shares in the last quarter. Institutional investors own 33.66% of the company's stock.

Solid Power Trading Up 9.2 %

NASDAQ SLDP traded up $0.18 on Friday, hitting $2.13. The company's stock had a trading volume of 48,119,438 shares, compared to its average volume of 2,623,773. The firm has a market cap of $384.23 million, a P/E ratio of -4.35 and a beta of 1.70. Solid Power has a 52-week low of $1.00 and a 52-week high of $2.70. The company's 50-day simple moving average is $1.20 and its 200 day simple moving average is $1.42.

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.