Solid Power, Inc. (NASDAQ:SLDP) Short Interest Update

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. Based on an average daily volume of 3,990,000 shares, the short-interest ratio is currently 5.8 days. Approximately 16.6% of the company’s shares are short sold.

Analysts Set New Price Targets

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

Solid Power Trading Up 2.8 %

SLDP stock traded up $0.05 during trading on Friday, hitting $1.68. The company had a trading volume of 1,045,070 shares, compared to its average volume of 6,154,729. The company has a fifty day moving average price of $1.38 and a two-hundred day moving average price of $1.45. Solid Power has a fifty-two week low of $1.00 and a fifty-two week high of $2.70. The company has a market cap of $302.15 million, a P/E ratio of -3.42 and a beta of 1.45.

Insider Buying and Selling

In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of the business’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 sale, the chief technology officer now directly owns 869,720 shares in the company, valued at approximately $930,600.40. The trade was a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 562,500 shares of company stock valued at $793,125. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Solid Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. bought a new stake in Solid Power during the 2nd quarter worth approximately $60,000. Intech Investment Management LLC bought a new stake in shares of Solid Power during the third quarter worth $62,000. Silver Lake Advisory LLC acquired a new stake in shares of Solid Power in the second quarter valued at $69,000. SG Americas Securities LLC raised its holdings in shares of 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 buying an additional 31,978 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Solid Power by 71.8% during the 2nd 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. 33.66% of the stock is currently owned by institutional investors and hedge funds.

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.