Short Interest in Solid Power, Inc. (NASDAQ:SLDP) Drops By 16.7%

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $1.07, for a total value of $200,625.00. Following the transaction, the chief technology officer now owns 869,720 shares of the company’s stock, valued at approximately $930,600.40. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 562,500 shares of company stock valued at $793,125 in the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake in Solid Power by 268.4% in the 3rd quarter. Barclays PLC now owns 200,619 shares of the company’s stock valued at $271,000 after buying an additional 146,157 shares in the last quarter. Geode Capital Management LLC grew its stake in Solid Power by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,407,015 shares of the company’s stock valued at $4,600,000 after buying an additional 88,754 shares in the last quarter. State Street Corp grew its stake in Solid Power by 0.7% in the 3rd quarter. State Street Corp now owns 2,962,235 shares of the company’s stock valued at $3,999,000 after buying an additional 19,209 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Solid Power by 10.1% in the 3rd 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 in the last quarter. Finally, Yaupon Capital Management LP grew its stake in Solid Power by 27.5% in the 3rd quarter. Yaupon Capital Management LP now owns 2,379,462 shares of the company’s stock valued at $3,212,000 after buying an additional 513,689 shares in the last quarter. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

Solid Power Trading Down 1.4 %

Shares of SLDP stock traded down $0.02 during trading hours on Monday, hitting $1.37. 2,449,208 shares of the company were exchanged, compared to its average volume of 4,607,679. The firm has a fifty day simple moving average of $1.48 and a 200 day simple moving average of $1.41. 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 $247.13 million, a price-to-earnings ratio of -2.80 and a beta of 1.41.

Solid Power (NASDAQ:SLDP) last issued its quarterly earnings results 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 company had revenue of $4.65 million for 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.