Needham & Company LLC Reiterates “Buy” Rating for Solid Power (NASDAQ:SLDP)

Needham & Company LLC reiterated their buy rating on shares of Solid Power (NASDAQ:SLDP) in a report released on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $3.00 target price on the stock.

Separately, Chardan Capital restated a buy rating and set a $5.00 price objective on shares of Solid Power in a research report on Wednesday, May 8th.

Solid Power Price Performance

Shares of SLDP stock traded down $0.03 on Wednesday, hitting $1.34. 1,524,785 shares of the stock traded hands, compared to its average volume of 2,737,320. The firm has a market cap of $237.24 million, a price-to-earnings ratio of -3.53 and a beta of 1.77. Solid Power has a 52 week low of $1.10 and a 52 week high of $2.71. The firm has a 50 day simple moving average of $1.76 and a two-hundred day simple moving average of $1.71.

Solid Power (NASDAQ:SLDP) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $5.08 million for the quarter, compared to the consensus estimate of $13.11 million. Solid Power had a negative net margin of 345.37% and a negative return on equity of 13.32%. During the same quarter in the previous year, the business earned ($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 Solid Power stock in a transaction on Friday, June 14th. The shares were sold at an average price of $1.66, for a total value of $311,250.00. Following the sale, the chief technology officer now directly owns 687,473 shares in the company, valued at approximately $1,141,205.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 562,500 shares of company stock worth $937,500. Insiders own 7.20% of the company’s stock.

Institutional Trading of Solid Power

A number of institutional investors and hedge funds have recently bought and sold shares of SLDP. Virtu Financial LLC grew its stake in shares of Solid Power by 459.4% in the 4th quarter. Virtu Financial LLC now owns 164,236 shares of the company’s stock worth $238,000 after buying 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 1st quarter worth $634,000. Quadrature Capital Ltd purchased a new position in shares of Solid Power in the 4th quarter worth $253,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Solid Power in the 4th quarter worth $37,000. Finally, SG Americas Securities LLC purchased a new position in shares of Solid Power in the 1st quarter worth $31,000. 33.66% of the stock is currently owned by institutional investors.

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.