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

Solid Power, Inc. (NASDAQ:SLDP) saw a significant growth in short interest in 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 shares of the company are sold short. Based on an average daily trading volume, of 3,990,000 shares, the days-to-cover ratio is currently 5.8 days.

Insider Transactions at Solid Power

In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $2.09, for a total value of $391,875.00. Following the completion of the sale, the chief technology officer now directly owns 865,304 shares in the company, valued at approximately $1,808,485.36. The trade was a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 562,500 shares of company stock valued at $793,125. 7.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SLDP. Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 88,754 shares in the last quarter. State Street Corp boosted its stake in Solid Power by 0.7% in the third 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. Yaupon Capital Management LP boosted its stake in Solid Power by 27.5% in the third 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. Charles Schwab Investment Management Inc. raised its stake 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in 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 in the last quarter. 33.66% of the stock is currently owned by institutional investors and hedge funds.

Solid Power Trading Down 1.2 %

SLDP stock traded down $0.02 during mid-day trading on Thursday, hitting $1.63. The stock had a trading volume of 2,203,992 shares, compared to its average volume of 6,703,218. The firm has a fifty day simple moving average of $1.38 and a 200 day simple moving average of $1.44. The firm has a market capitalization of $294.04 million, a P/E ratio of -3.33 and a beta of 1.45. Solid Power has a 52 week low of $1.00 and a 52 week high of $2.70.

Analyst Ratings Changes

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

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.