Solid Power (NASDAQ:SLDP) Issues Earnings Results

Solid Power (NASDAQ:SLDP) posted its quarterly earnings data on Tuesday. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.06, FiscalAI reports. Solid Power had a negative net margin of 429.54% and a negative return on equity of 23.88%. The firm had revenue of $3.07 million for the quarter, compared to the consensus estimate of $3.33 million.

Solid Power Stock Up 1.4%

Shares of NASDAQ:SLDP traded up $0.05 on Tuesday, reaching $3.51. 6,285,703 shares of the company’s stock were exchanged, compared to its average volume of 5,743,313. Solid Power has a fifty-two week low of $1.11 and a fifty-two week high of $8.86. The business’s 50-day moving average is $3.25 and its two-hundred day moving average is $4.50. The firm has a market capitalization of $774.24 million, a price-to-earnings ratio of -7.02 and a beta of 1.91.

Institutional Trading of Solid Power

A number of large investors have recently modified their holdings of SLDP. Bank of America Corp DE increased its holdings in shares of Solid Power by 3,974.6% in the 3rd quarter. Bank of America Corp DE now owns 6,495,146 shares of the company’s stock worth $22,538,000 after acquiring an additional 6,335,739 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Solid Power by 5,305.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,934,653 shares of the company’s stock worth $8,222,000 after acquiring an additional 1,898,859 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Solid Power in the 4th quarter worth about $7,810,000. Vanguard Group Inc. increased its holdings in shares of Solid Power by 15.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company’s stock worth $32,760,000 after acquiring an additional 1,278,324 shares during the period. Finally, State Street Corp increased its holdings in shares of Solid Power by 25.9% in the 4th quarter. State Street Corp now owns 4,077,239 shares of the company’s stock worth $17,328,000 after acquiring an additional 839,471 shares during the period. Institutional investors and hedge funds own 33.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLDP. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Power in a report on Tuesday, April 21st. Zacks Research raised shares of Solid Power to a “hold” rating in a report on Tuesday, March 17th. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Solid Power in a report on Wednesday, January 14th. Finally, HC Wainwright began coverage on shares of Solid Power in a report on Monday, March 16th. They set a “buy” rating and a $7.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.00.

Solid Power Company Profile

Solid Power, Inc (NASDAQ: SLDP) is a Colorado-based company specializing in the development and manufacturing of all-solid-state rechargeable battery cells for the electric vehicle (EV) and aerospace industries. Founded in 2012 as a spin-out from the University of Colorado Boulder, Solid Power has focused on advancing solid electrolytes and high-energy battery architectures to deliver improved safety, higher energy density and longer cycle life compared with traditional lithium-ion batteries.

The company’s core offerings include multilayer solid-state battery cells that utilize sulfide-based solid electrolytes and high-capacity cathode materials.