Solid Power’s (SLDP) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Solid Power (NASDAQ:SLDP) in a report issued on Wednesday, Benzinga reports. They currently have a $3.00 price objective on the stock.

SLDP has been the topic of a number of other research reports. DA Davidson reissued a neutral rating and issued a $3.00 price target on shares of Solid Power in a report on Tuesday, March 5th. Chardan Capital reiterated a buy rating and issued a $5.00 price objective on shares of Solid Power in a research report on Wednesday, February 28th.

Solid Power Trading Down 0.6 %

Shares of NASDAQ:SLDP opened at $1.73 on Wednesday. The stock has a market capitalization of $313.29 million, a P/E ratio of -4.70 and a beta of 1.79. The stock’s 50-day moving average price is $1.67 and its 200-day moving average price is $1.53. Solid Power has a 12-month low of $1.10 and a 12-month high of $3.20.

Solid Power (NASDAQ:SLDP) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Solid Power had a negative return on equity of 12.55% and a negative net margin of 376.47%. The business had revenue of $2.35 million for the quarter, compared to analyst estimates of $4.14 million. As a group, research analysts predict that Solid Power will post -0.42 EPS for the current year.

Insider Activity

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $1.86, for a total transaction of $348,750.00. Following the transaction, the chief technology officer now directly owns 692,993 shares in the company, valued at $1,288,966.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.20% of the company’s stock.

Institutional Trading of Solid Power

Several institutional investors and hedge funds have recently modified their holdings of the company. Gainplan LLC purchased a new stake in Solid Power in the 1st quarter worth $25,000. Norden Group LLC bought a new stake in Solid Power in the 1st quarter valued at $29,000. Brave Asset Management Inc. lifted its stake in Solid Power by 90.9% in the 4th quarter. Brave Asset Management Inc. now owns 21,000 shares of the company’s stock worth $30,000 after purchasing an additional 10,000 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Solid Power during the first quarter valued at about $31,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Solid Power during the 4th quarter valued at $37,000. 33.66% of the stock is currently owned by institutional investors.

About Solid Power

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.