Stock Traders Buy High Volume of Solid Power Call Options (NASDAQ:SLDP)

Solid Power, Inc. (NASDAQ:SLDP) was the target of unusually large options trading on Friday. Traders acquired 5,216 call options on the company. This is an increase of 1,105% compared to the typical daily volume of 433 call options.

Wall Street Analysts Forecast Growth

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

Solid Power Stock Performance

Solid Power stock traded up $0.20 during midday trading on Friday, hitting $2.15. 28,186,400 shares of the company’s stock were exchanged, compared to its average volume of 2,529,335. The stock has a 50-day moving average price of $1.18 and a two-hundred day moving average price of $1.42. Solid Power has a 52-week low of $1.00 and a 52-week high of $2.70. The company has a market cap of $386.93 million, a P/E ratio of -4.38 and a beta of 1.70.

Insider Buying and Selling

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the stock in a transaction on 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 sale, the chief technology officer now directly owns 869,720 shares of the company’s stock, valued at approximately $930,600.40. This represents a 17.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 transaction of $642,979.41. Following the transaction, the director now directly owns 187,617 shares in the company, valued at $238,273.59. This represents a 72.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,068,783 shares of company stock valued at $1,280,479. 7.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Solid Power

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. purchased a new position in Solid Power in the second quarter worth $60,000. Silver Lake Advisory LLC bought a new position in shares of Solid Power during the second quarter valued at about $69,000. Intech Investment Management LLC bought a new stake in shares of Solid Power in the 3rd quarter valued at about $62,000. SG Americas Securities LLC grew its position in Solid Power by 115.0% during the 3rd quarter. SG Americas Securities LLC now owns 59,797 shares of the company’s stock worth $81,000 after acquiring an additional 31,978 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew 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 purchasing an additional 25,520 shares during the last quarter. 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.