John Stephens, a director at
Solid Power Inc (SLDP), recently picked up 30,000 shares. The buy increased his holdings by 42 percent, and came to a total price of $204,000.
The director has been buying throughout August, with other buys totaling 60,000 shares overall at a cost of over $600,000. These buys have occurred as some major owners have been selling shares, as well as the company CEO.
Even with big sales recently from the company CEO, insiders own 29.5 percent of the company.
The battery technology company has seen shares slide by one-third in the past year, even as revenue has soared 360 percent. The company is not yet profitable, but cash on the books represents nearly one-third of the share price. That means Solid Power has the capital to make it to profitability right now.
Action to take: This is an early-stage growth story that can lead to great returns in time. Investors can likely start gradually buying shares in the coming weeks to take advantage of any further weakness in the stock market.
For traders, the February 2023 $7.50 calls, last going for about $0.95, can potentially drop to the $0.75-$0.80 range in the coming weeks on a further drop in shares. From there, they’ll be well positioned for a rebound with high double-digit return potential.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.