UBS Group AG Grows Holdings in Solid Power, Inc. $SLDP

UBS Group AG increased its position in shares of Solid Power, Inc. (NASDAQ:SLDP) by 157.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,011,495 shares of the company’s stock after purchasing an additional 618,757 shares during the quarter. UBS Group AG’s holdings in Solid Power were worth $4,299,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SLDP. Goldman Sachs Group Inc. boosted its holdings in Solid Power by 12.7% during the first quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company’s stock worth $939,000 after purchasing an additional 100,939 shares during the last quarter. Creative Planning purchased a new position in Solid Power during the second quarter worth about $26,000. American Century Companies Inc. purchased a new position in Solid Power during the second quarter worth about $27,000. Prudential Financial Inc. boosted its holdings in Solid Power by 69.7% during the second quarter. Prudential Financial Inc. now owns 17,480 shares of the company’s stock worth $38,000 after purchasing an additional 7,180 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in Solid Power during the second quarter worth about $33,000. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Solid Power

In other Solid Power news, Director Lesa B. Roe sold 39,207 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $2.66, for a total transaction of $104,290.62. Following the sale, the director owned 243,975 shares of the company’s stock, valued at $648,973.50. The trade was a 13.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is owned by insiders.

Solid Power Price Performance

Shares of SLDP stock opened at $3.06 on Friday. The company’s fifty day simple moving average is $3.14 and its two-hundred day simple moving average is $4.21. Solid Power, Inc. has a 1 year low of $1.30 and a 1 year high of $8.86. The stock has a market capitalization of $688.44 million, a price-to-earnings ratio of -6.37 and a beta of 1.91.

Solid Power (NASDAQ:SLDP) last issued its earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.06. Solid Power had a negative net margin of 485.47% and a negative return on equity of 21.57%. The business had revenue of $3.07 million for the quarter, compared to analysts’ expectations of $3.33 million. Equities research analysts anticipate that Solid Power, Inc. will post -0.44 EPS for the current year.

Analyst Upgrades and Downgrades

SLDP has been the topic of several analyst reports. HC Wainwright initiated coverage on shares of Solid Power in a report on Monday, March 16th. They set a “buy” rating and a $7.00 price target on the stock. Zacks Research upgraded shares of Solid Power to a “hold” rating in a research note on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a research note on Tuesday, April 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Solid Power in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average 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.