313,302 Shares in Solid Power, Inc. $SLDP Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management bought 313,302 shares of Solid Power (NASDAQ:SLDP) in Q2, a position worth about $686,000, representing roughly 0.17% of the company.
• Several other institutions also adjusted positions—most notably Pure Financial Advisors added about $4.668 million and Goldman Sachs increased to 894,120 shares—leaving institutional ownership at about 33.66%.
• SLDP trades around $6.05 with a market cap near $1.16 billion; the company recently beat EPS and revenue estimates but remains unprofitable, and analysts hold a mixed view with a consensus target of $7.00.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Solid Power, Inc. (NASDAQ:SLDP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 313,302 shares of the company's stock, valued at approximately $686,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.17% of Solid Power at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MBL Wealth LLC acquired a new stake in shares of Solid Power during the second quarter worth $591,000. Virtu Financial LLC bought a new position in Solid Power during the first quarter worth about $96,000. Pure Financial Advisors LLC acquired a new stake in Solid Power in the 2nd quarter worth about $4,668,000. Goldman Sachs Group Inc. boosted its holdings in Solid Power by 12.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company's stock valued at $939,000 after purchasing an additional 100,939 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Solid Power during the 1st quarter worth approximately $590,000. 33.66% of the stock is owned by institutional investors and hedge funds.

Solid Power Trading Up 3.4%

NASDAQ SLDP opened at $6.05 on Friday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -11.41 and a beta of 1.85. The firm's 50 day simple moving average is $5.33 and its 200 day simple moving average is $3.60. Solid Power, Inc. has a 1 year low of $0.68 and a 1 year high of $8.86.

Solid Power (NASDAQ:SLDP - Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. Solid Power had a negative net margin of 429.55% and a negative return on equity of 24.88%. The business had revenue of $4.56 million during the quarter, compared to the consensus estimate of $3.50 million.

Analysts Set New Price Targets

SLDP has been the subject of a number of analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Solid Power in a research report on Wednesday, October 8th. Needham & Company LLC lifted their price objective on Solid Power from $4.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Solid Power has an average rating of "Hold" and a consensus target price of $7.00.

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.

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