Nuveen LLC Acquires 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 acquired a new stake in Solid Power, Inc. (NASDAQ:SLDP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 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 institutional investors have also recently added to or reduced their stakes in SLDP. BNP Paribas Financial Markets acquired a new position in shares of Solid Power during the fourth quarter worth about $34,000. Raymond James Financial Inc. bought a new position in shares of Solid Power during the fourth quarter valued at approximately $40,000. SBI Securities Co. Ltd. grew its holdings in Solid Power by 318.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 44,392 shares of the company's stock worth $47,000 after buying an additional 33,776 shares in the last quarter. ProShare Advisors LLC lifted its position in Solid Power by 50.6% in the fourth quarter. ProShare Advisors LLC now owns 43,589 shares of the company's stock worth $82,000 after purchasing an additional 14,655 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Solid Power during the 1st quarter valued at $96,000. Hedge funds and other institutional investors own 33.66% of the company's stock.

Analysts Set New Price Targets

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

Solid Power Price Performance

Shares of NASDAQ:SLDP traded up $0.26 during trading on Friday, reaching $4.19. The stock had a trading volume of 6,207,490 shares, compared to its average volume of 8,934,194. Solid Power, Inc. has a 52 week low of $0.68 and a 52 week high of $5.62. The business's 50-day moving average price is $3.69 and its 200 day moving average price is $2.14. The stock has a market capitalization of $759.56 million, a PE ratio of -8.06 and a beta of 1.83.

Solid Power (NASDAQ:SLDP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $6.49 million during the quarter, compared to analyst estimates 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.