Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Solid Power, Inc. (NASDAQ:SLDP – Free Report) by 31.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,255,988 shares of the company’s stock after selling 581,632 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.56% of Solid Power worth $3,768,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new position in shares of Solid Power during the 3rd quarter worth about $1,709,000. UBS Group AG increased its position in Solid Power by 157.5% in the 4th quarter. UBS Group AG now owns 1,011,495 shares of the company’s stock valued at $4,299,000 after buying an additional 618,757 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Solid Power by 169.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 25,679 shares of the company’s stock worth $56,000 after buying an additional 16,153 shares during the period. Corient Private Wealth LLC acquired a new position in Solid Power during the 2nd quarter worth approximately $31,000. Finally, Captrust Financial Advisors bought a new position in Solid Power in the second quarter worth approximately $104,000. Institutional investors own 33.66% of the company’s stock.
Solid Power Stock Performance
NASDAQ SLDP opened at $2.07 on Friday. The company has a market capitalization of $465.71 million, a PE ratio of -4.31 and a beta of 1.90. Solid Power, Inc. has a 52-week low of $1.98 and a 52-week high of $8.86. The company has a 50-day simple moving average of $2.68 and a 200 day simple moving average of $3.30.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Solid Power in a report on Wednesday, May 6th. Alliance Global Partners assumed coverage on Solid Power in a report on Wednesday, June 10th. They issued a “buy” rating and a $6.75 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Power in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.92.
Read Our Latest Analysis on Solid Power
Insiders Place Their Bets
In other Solid Power news, Director Lesa B. Roe sold 39,207 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $2.66, for a total value of $104,290.62. Following the completion of the sale, the director directly owned 243,975 shares of the company’s stock, valued at $648,973.50. This trade represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.70% of the company’s stock.
Solid Power Profile
Solid Power, Inc (NASDAQ: SLDP) is a Colorado-based company specializing in the development and manufacturing of all-solid-state rechargeable battery cells for the electric vehicle (EV) and aerospace industries. Founded in 2012 as a spin-out from the University of Colorado Boulder, Solid Power has focused on advancing solid electrolytes and high-energy battery architectures to deliver improved safety, higher energy density and longer cycle life compared with traditional lithium-ion batteries.
The company’s core offerings include multilayer solid-state battery cells that utilize sulfide-based solid electrolytes and high-capacity cathode materials.
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