Solid Power, Inc. (NASDAQ:SLDP) Sees Large Drop in Short Interest

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

Solid Power Price Performance

Shares of SLDP stock remained flat at $1.39 during trading hours on Friday. 2,901,898 shares of the stock traded hands, 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. Solid Power has a twelve month low of $1.00 and a twelve month high of $2.70. The firm has a 50 day moving average price of $1.48 and a 200-day moving average price of $1.42.

Solid Power (NASDAQ:SLDP) last issued its earnings results on Thursday, November 7th. The company reported ($0.13) 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.

Insider Activity

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the stock in a transaction dated Monday, December 16th. The stock was 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. This represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 562,500 shares of company stock worth $793,125 over the last 90 days. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Solid Power

Several institutional investors have recently added to or reduced their stakes in the business. Belvedere Trading LLC bought a new position in shares of Solid Power in the 4th quarter worth about $33,000. American Century Companies Inc. acquired a new stake in Solid Power during the second quarter worth about $60,000. Intech Investment Management LLC bought a new position in Solid Power in the third quarter worth about $62,000. SG Americas Securities LLC boosted its stake in Solid Power by 115.0% in the third quarter. SG Americas Securities LLC now owns 59,797 shares of the company’s stock valued at $81,000 after acquiring an additional 31,978 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Solid Power during the third quarter valued at approximately $195,000. Institutional investors own 33.66% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a “buy” rating and set a $2.00 target price on shares of Solid Power in a research note on Wednesday, January 15th.

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.