DnB Asset Management AS Takes Position in Solid Power, Inc. (NASDAQ:SLDP)

DnB Asset Management AS acquired a new position in shares of Solid Power, Inc. (NASDAQ:SLDP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 101,646 shares of the company’s stock, valued at approximately $192,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cibc World Markets Corp acquired a new stake in Solid Power during the 4th quarter valued at approximately $27,000. Belvedere Trading LLC acquired a new stake in shares of Solid Power during the fourth quarter worth $33,000. Raymond James Financial Inc. bought a new position in Solid Power during the fourth quarter worth $40,000. Intech Investment Management LLC bought a new position in Solid Power during the third quarter worth $62,000. Finally, Carlson Capital L.P. acquired a new position in Solid Power in the fourth quarter valued at $189,000. 33.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Solid Power

In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $1.13, for a total transaction of $211,875.00. Following the sale, the chief technology officer now directly owns 865,304 shares in the company, valued at $977,793.52. The trade was a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.20% of the company’s stock.

Solid Power Stock Performance

Shares of SLDP opened at $1.05 on Thursday. The firm has a market capitalization of $191.09 million, a P/E ratio of -2.14 and a beta of 1.42. Solid Power, Inc. has a 52 week low of $1.00 and a 52 week high of $2.70. The stock has a 50 day moving average price of $1.25 and a two-hundred day moving average price of $1.31.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). Solid Power had a negative net margin of 471.22% and a negative return on equity of 18.08%. The firm had revenue of $4.46 million for the quarter, compared to the consensus estimate of $3.85 million.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a “buy” rating and issued a $2.00 price objective on shares of Solid Power in a research report on Wednesday, January 15th.

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.