Nuveen LLC Purchases New Holdings in Solid Power, Inc. $SLDP

Key Points

• Nuveen LLC acquired 562,159 shares of Solid Power, Inc. valued at approximately $590,000, representing about 0.31% of the company.
• Needham & Company raised Solid Power's target price from $2.00 to $4.00, with a "buy" rating, while the stock has a consensus price target of $2.50.
• Solid Power reported a revenue of $6.49 million for the last quarter, topping expectations of $5.00 million, despite an earnings miss at ($0.14) earnings per share.

Nuveen LLC purchased a new position in shares of Solid Power, Inc. (NASDAQ:SLDP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 562,159 shares of the company's stock, valued at approximately $590,000. Nuveen LLC owned 0.31% of Solid Power as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in Solid Power by 21.2% in 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 during the period. Northern Trust Corp boosted its holdings in Solid Power by 7.4% in the fourth quarter. Northern Trust Corp now owns 1,283,424 shares of the company's stock valued at $2,426,000 after purchasing an additional 88,563 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Solid Power by 4.4% in 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 during the period. Bank of New York Mellon Corp boosted its holdings in Solid Power by 4.6% in 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 during the period. Finally, Bridgeway Capital Management LLC purchased a new position in Solid Power in the fourth quarter valued at $662,000. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Solid Power Stock Performance

NASDAQ SLDP traded down $0.22 during trading on Tuesday, reaching $3.71. 3,441,387 shares of the company's stock were exchanged, compared to its average volume of 5,754,877. The stock has a market cap of $671.64 million, a P/E ratio of -7.11 and a beta of 1.82. The company has a 50 day moving average price of $3.73 and a two-hundred day moving average price of $2.16. Solid Power, Inc. has a 1 year low of $0.68 and a 1 year high of $5.62.

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