Solid Power, Inc. (NASDAQ:SLDP) Short Interest Up 55.0% in December

Solid Power, Inc. (NASDAQ:SLDP) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 23,150,000 shares, a growth of 55.0% from the December 15th total of 14,940,000 shares. Approximately 16.6% of the company’s stock are short sold. Based on an average daily volume of 3,990,000 shares, the days-to-cover ratio is currently 5.8 days.

Insider Buying and Selling at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were 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 trade 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 this hyperlink. 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 company insiders.

Hedge Funds Weigh In On Solid Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Solid Power by 268.4% in the third quarter. Barclays PLC now owns 200,619 shares of the company’s stock valued at $271,000 after purchasing an additional 146,157 shares during the period. Geode Capital Management LLC raised its holdings 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 acquiring an additional 88,754 shares during the period. State Street Corp lifted its position in Solid Power by 0.7% during the third quarter. State Street Corp now owns 2,962,235 shares of the company’s stock worth $3,999,000 after acquiring an additional 19,209 shares during 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 worth $1,559,000 after acquiring an additional 106,380 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Solid Power by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 577,634 shares of the company’s stock worth $953,000 after acquiring an additional 108,847 shares during the period. 33.66% of the stock is owned by institutional investors.

Solid Power Stock Down 1.2 %

Shares of NASDAQ SLDP traded down $0.02 during midday trading on Thursday, hitting $1.63. 2,203,992 shares of the company’s stock were exchanged, compared to its average volume of 6,703,218. The firm has a market capitalization of $294.04 million, a PE ratio of -3.33 and a beta of 1.45. Solid Power has a 12 month low of $1.00 and a 12 month high of $2.70. The company’s 50 day moving average price is $1.38 and its 200 day moving average price is $1.44.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a “buy” rating and issued a $2.00 price objective on shares of Solid Power in a report on Wednesday.

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.