A company insider recently sold 170,000 shares of Solid Power Inc. [SLDP]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Solid Power Inc. shares valued at $1,089,700 were sold by Campbell Douglas M on Aug 31. At $6.41 per share, Campbell Douglas M sold 170,000 shares. The insider’s holdings dropped to 9,700,214 shares worth approximately $53.74 million following the completion of this transaction.

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Also, STEPHENS JOHN JOSEPH purchased 30,000 shares, netting a total of over 203,937 in proceeds. Following the buying of shares at $6.80 each, the insider now holds 85,505 shares.

Before that, Campbell Douglas M had sold 200,000 shares from its account. In a trade valued at $1,334,000, the Chief Executive Officer traded Solid Power Inc. shares for $6.67 each. Upon closing the transaction, the insider’s holdings decreased to 200,000 shares, worth approximately $54.68 million.

As published in their initiating research note from Chardan Capital Markets on June 29, 2022, Solid Power Inc. [SLDP] has been a Buy and the price target has been revised to $8. This represents a 30.75% premium over Thursday’s closing price. Analysts at Needham started covering the stock with ‘”a Buy”‘ outlook in a report released in early January.

Analyzing SLDP’s Price Performance

On Thursday, Solid Power Inc. [NASDAQ: SLDP] plunged -3.82% to $5.54. The stock’s lowest price that day was $5.43, but it reached a high of $5.80 in the same session. During the last five days, there has been a drop of approximately -11.50%. Over the course of the year, Solid Power Inc. shares have dropped approximately -36.61%. Shares of the company reached a 52-week high of $9.99 on 04/05/22 and a 52-week low of $5.22 on 07/05/22. A 50-day SMA is recorded $6.50, while a 200-day SMA reached $7.60. Nevertheless, trading volume fell to 1.78 million shares from 2.2 million shares the previous day.

Support And Resistance Levels for Solid Power Inc. (SLDP)

According to the 24-hour chart, there is a support level at 5.38, which, if violated, would cause prices to drop to 5.22. In the upper region, resistance lies at 5.75. The next price resistance is at 5.96. RSI (Relative Strength Index) is 32.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.46, which suggests the price will decrease in the coming days. Percent R is at 92.62%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Solid Power Inc. subject to short interest?

Stocks of Solid Power Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.71 million shares to 5.44 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.73 million shares. A jump of 13.05% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.27 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.27.

Which companies own the most shares of Solid Power Inc. (SLDP)?

According to Koch Industries, Inc. filings, the company currently owns 5,000,000 shares, which is about 2.87% of the total SLDP shares outstanding. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $26,958,892. The Vanguard Group, Inc. acquire a 10.89% interest valued at $18.06 million while Invesco Capital Management LLC purchased a 224,458 stake. A total of 0 shares of Solid Power Inc. were bought by Irish Life Investment Managers Lt during the quarter, and 477,953 were bought by Geode Capital Management LLC. In its current portfolio, SSgA Funds Management, Inc. holds 1,128,405 shares valued at $7.42 million.

In terms of Solid Power Inc. share price expectations, FactSet research, analysts set an average price target of $11.33 in the next 12 months, up nearly 125.69% from the previous closing price of $5.76. Analysts anticipate Solid Power Inc. stock to reach $13.00 by 2022, with the lowest price target being $8.00. In spite of this, 4 analysts ranked Solid Power Inc. stock as an Overweight at the end of 2022.


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