Goldman Sachs Group Inc. Grows Stock Holdings in Solid Power, Inc. $SLDP

Key Points

• Goldman Sachs increased its stake in Solid Power, Inc. by 12.7%, now holding approximately 0.50% of the company valued at $939,000.
• Analysts from Needham & Company have raised their price target for Solid Power from $2.00 to $4.00 and maintained a "buy" rating.
• Solid Power reported negative earnings of ($0.14) per share for the last quarter, missing expectations, but generated revenue of $6.49 million compared to projections of $5.00 million.

Goldman Sachs Group Inc. raised its position in shares of Solid Power, Inc. (NASDAQ:SLDP - Free Report) by 12.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 894,120 shares of the company's stock after purchasing an additional 100,939 shares during the period. Goldman Sachs Group Inc. owned approximately 0.50% of Solid Power worth $939,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Yaupon Capital Management LP raised its position in Solid Power by 709.1% during the first quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company's stock valued at $3,738,000 after purchasing an additional 3,120,316 shares in the last quarter. Millennium Management LLC raised its position in Solid Power by 21.2% during the fourth quarter. Millennium Management LLC now owns 1,401,680 shares of the company's stock valued at $2,649,000 after purchasing an additional 244,738 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Solid Power by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,214,995 shares of the company's stock valued at $1,276,000 after purchasing an additional 51,434 shares in the last quarter. Nuveen LLC purchased a new stake in Solid Power during the first quarter valued at about $590,000. Finally, Bank of New York Mellon Corp raised its position in Solid Power by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 395,414 shares of the company's stock valued at $415,000 after purchasing an additional 17,225 shares in the last quarter. Hedge funds and other institutional investors own 33.66% of the company's stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised their price target on Solid Power from $2.00 to $4.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $4.00.

Solid Power Stock Performance

SLDP stock opened at $4.55 on Tuesday. The firm has a 50 day moving average price of $4.01 and a 200-day moving average price of $2.35. Solid Power, Inc. has a 52-week low of $0.68 and a 52-week high of $5.62. The firm has a market capitalization of $823.92 million, a price-to-earnings ratio of -8.74 and a beta of 1.82.

Solid Power (NASDAQ:SLDP - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Solid Power had a negative net margin of 412.62% and a negative return on equity of 23.13%. The business had revenue of $6.49 million for the quarter, compared to analysts' expectations of $5.00 million.

Solid Power Profile

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.