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

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

Insider Buying and Selling

In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of the firm’s stock in a transaction that occurred 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 owns 869,720 shares in the company, valued at $1,095,847.20. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Erik J. Anderson sold 506,283 shares of the company’s stock in a transaction that occurred 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 owns 187,617 shares in the company, valued at approximately $238,273.59. The trade was a 72.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,068,783 shares of company stock worth $1,280,479. 7.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. bought a new position in Solid Power in the 2nd quarter valued at $60,000. Silver Lake Advisory LLC purchased a new stake in shares of Solid Power in the second quarter worth $69,000. Intech Investment Management LLC bought a new stake in Solid Power during the third quarter valued at $62,000. SG Americas Securities LLC grew its position in Solid Power by 115.0% during the third quarter. SG Americas Securities LLC now owns 59,797 shares of the company’s stock worth $81,000 after buying an additional 31,978 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Solid Power by 71.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 61,044 shares of the company’s stock worth $101,000 after buying an additional 25,520 shares in the last quarter. Institutional investors own 33.66% of the company’s stock.

Solid Power Price Performance

NASDAQ:SLDP opened at $2.13 on Friday. Solid Power has a 1 year low of $1.00 and a 1 year high of $2.70. The stock’s fifty day moving average price is $1.20 and its two-hundred day moving average price is $1.42. The company has a market cap of $384.23 million, a P/E ratio of -4.35 and a beta of 1.70.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. 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 research report on Monday, November 11th. Wolfe Research started coverage on shares of Solid Power in a report on Thursday, September 5th. They set an “underperform” rating and a $1.00 price objective on the stock.

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.