Pure Financial Advisors LLC Makes New $4.67 Million Investment in Solid Power, Inc. $SLDP

Key Points

• Pure Financial Advisors LLC has made a new investment in Solid Power, Inc., acquiring approximately $4.67 million worth of shares, representing about 1.19% of the company's total stock.
• Solid Power reported a loss per share of $0.14 for the last quarter, missing analyst estimates, although revenue was higher than expected at $6.49 million.
• Analysts at Needham & Company LLC upgraded Solid Power's price target from $2.00 to $4.00 and rated the stock as a "buy," with a consensus rating now reflecting a positive outlook.

Pure Financial Advisors LLC acquired a new stake in Solid Power, Inc. (NASDAQ:SLDP - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,131,703 shares of the company's stock, valued at approximately $4,668,000. Pure Financial Advisors LLC owned about 1.19% of Solid Power at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in shares of Solid Power in the 4th quarter valued at approximately $34,000. ProShare Advisors LLC increased its position in shares of Solid Power by 50.6% in the 4th quarter. ProShare Advisors LLC now owns 43,589 shares of the company's stock valued at $82,000 after purchasing an additional 14,655 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of Solid Power by 318.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 44,392 shares of the company's stock valued at $47,000 after purchasing an additional 33,776 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Solid Power by 22.1% in the 1st quarter. MetLife Investment Management LLC now owns 73,184 shares of the company's stock valued at $77,000 after purchasing an additional 13,258 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Solid Power in the 1st quarter valued at approximately $96,000. 33.66% of the stock is owned by hedge funds and other institutional investors.

Solid Power Price Performance

NASDAQ SLDP opened at $3.71 on Thursday. The firm's fifty day moving average price is $4.04 and its 200 day moving average price is $2.47. The company has a market capitalization of $672.55 million, a price-to-earnings ratio of -7.13 and a beta of 1.77. Solid Power, Inc. has a 12 month low of $0.68 and a 12 month high of $5.62.

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

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC increased their price objective on shares of 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.com, the company currently has a consensus rating of "Buy" and an average target price of $4.00.

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.

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.