Solid Power (NASDAQ:SLDP) Receives Buy Rating from Needham & Company LLC

Solid Power (NASDAQ:SLDP)‘s stock had its “buy” rating restated by Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $3.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 70.45% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. DA Davidson restated a “neutral” rating and issued a $3.00 price target on shares of Solid Power in a research note on Tuesday, March 5th. Chardan Capital restated a “buy” rating and set a $5.00 price target on shares of Solid Power in a report on Wednesday, February 28th.

Solid Power Stock Performance

NASDAQ:SLDP opened at $1.76 on Wednesday. Solid Power has a fifty-two week low of $1.10 and a fifty-two week high of $3.20. The company has a 50 day moving average price of $1.67 and a 200 day moving average price of $1.53. The stock has a market capitalization of $318.72 million, a P/E ratio of -4.78 and a beta of 1.79.

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

Insider Transactions at Solid Power

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Gainplan LLC acquired a new stake in Solid Power during the 1st quarter worth $25,000. Norden Group LLC acquired a new stake in shares of Solid Power during the first quarter worth about $29,000. Brave Asset Management Inc. increased its position in shares of Solid Power by 90.9% during the fourth 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 acquired a new stake in shares of Solid Power in the 1st quarter valued at about $31,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Solid Power during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 33.66% of the company’s stock.

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.