Solid Power (NASDAQ:SLDP) Earns Underperform Rating from Analysts at Wolfe Research

Wolfe Research started coverage on shares of Solid Power (NASDAQ:SLDP) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued an underperform rating and a $1.00 target price on the stock.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC reissued a buy rating and set a $3.00 price target on shares of Solid Power in a research report on Wednesday, August 7th. Chardan Capital reissued a buy rating and set a $5.00 price target on shares of Solid Power in a research report on Wednesday, May 8th.

Solid Power Trading Down 1.6 %

NASDAQ:SLDP opened at $1.24 on Thursday. The company has a 50-day moving average price of $1.66 and a 200-day moving average price of $1.67. Solid Power has a 12 month low of $1.10 and a 12 month high of $2.35. The stock has a market cap of $219.54 million, a price-to-earnings ratio of -3.26 and a beta of 1.73.

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

Insider Buying and Selling at Solid Power

In other Solid Power news, CTO Joshua Buettner-Garrett sold 187,500 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $1.66, for a total transaction of $311,250.00. Following the completion of the sale, the chief technology officer now directly owns 683,057 shares in the company, valued at approximately $1,133,874.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $1.66, for a total value of $311,250.00. Following the completion of the sale, the chief technology officer now directly owns 683,057 shares in the company, valued at $1,133,874.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven H. Goldberg sold 59,197 shares of Solid Power stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $1.45, for a total transaction of $85,835.65. Following the completion of the sale, the director now owns 82,365 shares of the company’s stock, valued at $119,429.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 649,597 shares of company stock worth $1,012,251. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Solid Power

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its holdings in Solid Power by 459.4% during the fourth 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. Jacobs Levy Equity Management Inc. purchased a new position in shares of Solid Power in the first quarter worth $634,000. 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. Quadrature Capital Ltd purchased a new position in shares of Solid Power in the fourth quarter worth $253,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Solid Power in the fourth quarter worth $37,000. 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.