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Solid Power, Inc. (NASDAQ:SLDP) Chief Technology Officer Joshua Buettner-Garrett recently sold 187,500 shares of the company’s common stock, generating approximately $392,287. This transaction was part of a pre-established Rule 10b5-1 trading plan, which was designed to cover tax liabilities from option exercises and facilitate long-term asset diversification.
The shares were sold at a weighted average price of $2.0922, with the actual transaction prices ranging from $1.985 to $2.33. After these transactions, Buettner-Garrett retains ownership of 865,304 shares directly.
Additionally, Buettner-Garrett exercised stock options to acquire 187,500 shares at a price of $0.03 each, totaling $5,625. This exercise was also conducted under the same 10b5-1 trading plan. For comprehensive insider trading analysis and 12 additional key insights about Solid Power, check out the full research report available on InvestingPro.
In other recent news, Solid Power, Inc., a developer of solid-state battery technology, reported its Q3 2024 financial results revealing a net loss despite a strong liquidity position. The company reported a revenue of $4.7 million, primarily from SK On agreements and government contracts, but incurred a net loss of $22.4 million due to operating expenses standing at $32.2 million. Despite this, Solid Power maintains a robust liquidity position, boasting $348.1 million in cash as of September 30, 2024.
Solid Power announced the extension of its joint development agreement with Ford Motor Company (NYSE:F) until December 31, 2025, which solidifies their collaboration on innovative battery technology. The company also reported being selected to negotiate a potential $50 million grant from the U.S. Department of Energy aimed at enhancing the production of solid electrolyte materials for advanced all-solid-state batteries.
According to an analysis by InvestingPro, Solid Power maintains a strong liquidity position, holding more cash than debt on its balance sheet, and a healthy current ratio of 6.88x. The company is also on track to meet its 2024 goals, including the installation of a pilot line for electrolyte production. Analyst consensus suggests potential upside, with price targets ranging from $1 to $3, though the company faces near-term challenges with an expected decline in net income this year.
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