Solid Power (NASDAQ:SLDP) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Solid Power (NASDAQ:SLDP) from a hold rating to a sell rating in a research note released on Saturday morning.

Other analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a research report on Wednesday, October 8th. Needham & Company LLC boosted their price target on Solid Power from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.00.

Solid Power Stock Down 2.1%

Shares of Solid Power stock opened at $4.59 on Friday. Solid Power has a twelve month low of $0.68 and a twelve month high of $8.86. The company’s 50 day moving average is $5.68 and its 200 day moving average is $4.31. The company has a market cap of $876.78 million, a price-to-earnings ratio of -8.66 and a beta of 1.87.

Solid Power (NASDAQ:SLDP) last posted its earnings results on Tuesday, November 4th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The business had revenue of $4.56 million during the quarter, compared to the consensus estimate of $3.50 million. Solid Power had a negative net margin of 429.55% and a negative return on equity of 24.88%.

Insider Buying and Selling

In related news, Director Erik J. Anderson sold 30,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $5.20, for a total value of $156,000.00. Following the transaction, the director directly owned 157,617 shares of the company’s stock, valued at approximately $819,608.40. This trade represents a 15.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Hudson Bay Capital Management LP purchased a new position in shares of Solid Power during the 3rd quarter valued at about $83,000. Tudor Investment Corp ET AL purchased a new stake in Solid Power in the 3rd quarter worth approximately $1,709,000. CIBC Bancorp USA Inc. bought a new stake in Solid Power during the 3rd quarter worth approximately $56,000. Harvest Investment Services LLC purchased a new position in Solid Power during the third quarter valued at approximately $1,158,000. Finally, Prelude Capital Management LLC bought a new position in shares of Solid Power in the third quarter worth approximately $102,000. Institutional investors own 33.66% of the company’s stock.

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.