Solid Power (NASDAQ:SLDP) Now Covered by Wolfe Research

Equities research analysts at Wolfe Research began coverage on shares of Solid Power (NASDAQ:SLDP) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm set an “underperform” rating and a $1.00 price target on the stock. Wolfe Research’s price objective would suggest a potential downside of 19.35% from the company’s previous close.

SLDP has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating and set a $3.00 target price on shares of Solid Power in a research note on Wednesday, August 7th. Chardan Capital reiterated a “buy” rating and issued a $5.00 target price on shares of Solid Power in a research note on Wednesday, May 8th.

Solid Power Trading Down 1.6 %

SLDP opened at $1.24 on Thursday. The company has a market cap of $219.54 million, a price-to-earnings ratio of -3.26 and a beta of 1.73. The company’s fifty day moving average price is $1.66 and its two-hundred day moving average price is $1.67. Solid Power has a 1-year low of $1.10 and a 1-year high of $2.35.

Solid Power (NASDAQ:SLDP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $5.08 million during the quarter, compared to the consensus estimate of $13.11 million. Solid Power had a negative net margin of 393.42% and a negative return on equity of 15.87%. During the same period in the previous year, the business posted ($0.07) EPS.

Insider Buying and Selling

In other Solid Power news, Director Lesa B. Roe sold 27,900 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $1.35, for a total transaction of $37,665.00. Following the sale, the director now directly owns 149,241 shares of the company’s stock, valued at $201,475.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Solid Power news, Director Lesa B. Roe sold 27,900 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $1.35, for a total transaction of $37,665.00. Following the sale, the director now owns 149,241 shares of the company’s stock, valued at approximately $201,475.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Joshua Buettner-Garrett sold 187,500 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $1.66, for a total value of $311,250.00. Following the completion of the transaction, the chief technology officer now directly owns 683,057 shares of the company’s stock, valued at $1,133,874.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 649,597 shares of company stock valued at $1,012,251. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Solid Power by 14.9% in the first quarter. Vanguard Group Inc. now owns 7,298,206 shares of the company’s stock worth $14,815,000 after buying an additional 944,162 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Solid Power in the 1st quarter worth approximately $634,000. Quadrature Capital Ltd bought a new position in Solid Power in the 4th quarter valued at $253,000. Virtu Financial LLC grew its position in shares of Solid Power by 459.4% during the 4th quarter. Virtu Financial LLC now owns 164,236 shares of the company’s stock valued at $238,000 after purchasing an additional 134,875 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Solid Power by 23.2% in the second quarter. Bank of New York Mellon Corp now owns 577,634 shares of the company’s stock worth $953,000 after purchasing an additional 108,847 shares during the period. Hedge funds and other institutional investors own 33.66% of the company’s stock.

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.