Bank of America Corp DE decreased its position in shares of Solid Power, Inc. (NASDAQ:SLDP - Free Report) by 24.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,217,556 shares of the company's stock after selling 1,015,537 shares during the quarter. Bank of America Corp DE owned approximately 1.43% of Solid Power worth $9,653,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Solid Power by 87.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,618,519 shares of the company's stock valued at $10,852,000 after buying an additional 1,683,866 shares during the period. UBS Group AG boosted its holdings in Solid Power by 157.5% in the 4th quarter. UBS Group AG now owns 1,011,495 shares of the company's stock valued at $4,299,000 after purchasing an additional 618,757 shares during the period. Vanguard Group Inc. grew its position in shares of Solid Power by 15.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company's stock valued at $32,760,000 after purchasing an additional 1,278,324 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Solid Power by 169.6% during the second quarter. Tower Research Capital LLC TRC now owns 25,679 shares of the company's stock valued at $56,000 after buying an additional 16,153 shares during the period. Finally, Corient Private Wealth LLC bought a new position in Solid Power in the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 33.66% of the company's stock.
Solid Power Price Performance
Shares of Solid Power stock opened at $2.37 on Monday. The firm has a market cap of $540.79 million, a price-to-earnings ratio of -5.27 and a beta of 1.92. Solid Power, Inc. has a 1 year low of $1.98 and a 1 year high of $8.86. The company has a 50-day moving average of $2.40 and a 200 day moving average of $2.97.
Solid Power (NASDAQ:SLDP - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. Solid Power had a negative net margin of 485.47% and a negative return on equity of 19.69%. The firm had revenue of ($0.27) million during the quarter, compared to analyst estimates of $1.55 million. On average, equities analysts anticipate that Solid Power, Inc. will post -0.39 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on SLDP. Weiss Ratings restated a "sell (d-)" rating on shares of Solid Power in a research report on Friday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $7.00 price target on shares of Solid Power in a research note on Wednesday, May 6th. Finally, Alliance Global Partners assumed coverage on Solid Power in a report on Wednesday, June 10th. They issued a "buy" rating and a $6.75 price objective for the company. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Solid Power presently has an average rating of "Hold" and a consensus price target of $6.92.
Get Our Latest Stock Report on SLDP
Solid Power Profile
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding SLDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Solid Power, Inc. (NASDAQ:SLDP - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Solid Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Solid Power wasn't on the list.
While Solid Power currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link to see MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
