Solid Power’s (SLDP) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Solid Power (NASDAQ:SLDP) in a research note published on Wednesday morning,Benzinga reports. They currently have a $7.00 price objective on the stock.

SLDP has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Power in a research report on Wednesday, October 8th. Wall Street Zen lowered Solid Power from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Solid Power has a consensus rating of “Hold” and a consensus target price of $7.00.

Solid Power Price Performance

Shares of NASDAQ:SLDP opened at $5.60 on Wednesday. Solid Power has a 1 year low of $0.68 and a 1 year high of $8.86. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -10.57 and a beta of 1.89. The business’s 50 day moving average price is $5.17 and its 200-day moving average price is $4.68.

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

Insiders Place Their Bets

In related news, Director Erik J. Anderson sold 30,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $5.20, for a total transaction of $156,000.00. Following the completion of the sale, the director owned 157,617 shares of the company’s stock, valued at approximately $819,608.40. This represents a 15.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLDP. Bank of America Corp DE increased its holdings in shares of Solid Power by 3,974.6% in the third quarter. Bank of America Corp DE now owns 6,495,146 shares of the company’s stock valued at $22,538,000 after purchasing an additional 6,335,739 shares during the last quarter. Pure Financial Advisors LLC purchased a new stake in Solid Power in the 2nd quarter valued at $4,668,000. Vanguard Group Inc. grew its holdings in Solid Power by 15.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company’s stock valued at $32,760,000 after buying an additional 1,278,324 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Solid Power in the 3rd quarter worth $1,709,000. Finally, Harvest Investment Services LLC purchased a new position in shares of Solid Power during the 3rd quarter worth $1,158,000. 33.66% of the stock is currently owned by institutional investors and hedge funds.

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.