Virtu Financial LLC Purchases Shares of 91,358 Solid Power, Inc. $SLDP

Key Points

• Virtu Financial LLC has acquired 91,358 shares of Solid Power, Inc. valued at approximately $96,000, representing a new stake in the company.
• The most recent quarterly earnings report revealed a loss of $0.14 per share, missing analyst estimates, but the company reported revenues of $6.49 million, exceeding expectations.
• In analyst updates, Needham & Company has raised their price target on Solid Power from $2.00 to $4.00 and has given the stock a "buy" rating.

Virtu Financial LLC acquired a new stake in shares of Solid Power, Inc. (NASDAQ:SLDP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 91,358 shares of the company's stock, valued at approximately $96,000. Virtu Financial LLC owned about 0.05% of Solid Power as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. ProShare Advisors LLC increased its stake 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 worth $82,000 after purchasing an additional 14,655 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Solid Power by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 67,987 shares of the company's stock valued at $129,000 after purchasing an additional 16,105 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 during the period. BNP Paribas Financial Markets bought a new stake in Solid Power during the fourth quarter valued at about $34,000. Finally, Raymond James Financial Inc. purchased a new stake in Solid Power in the fourth quarter worth about $40,000. 33.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Steven H. Goldberg sold 82,365 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1.62, for a total value of $133,431.30. Following the sale, the director directly owned 118,808 shares in the company, valued at approximately $192,468.96. This represents a 40.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lesa B. Roe sold 29,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $1.69, for a total value of $49,010.00. Following the completion of the transaction, the director directly owned 239,049 shares in the company, valued at approximately $403,992.81. This trade represents a 10.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company's stock.

Solid Power Price Performance

NASDAQ SLDP remained flat at $4.12 during trading hours on Wednesday. The company had a trading volume of 8,062,092 shares, compared to its average volume of 5,612,735. The business's 50-day moving average is $3.06 and its 200-day moving average is $1.87. Solid Power, Inc. has a one year low of $0.68 and a one year high of $5.62. The stock has a market cap of $746.89 million, a P/E ratio of -7.92 and a beta of 1.80.

Solid Power (NASDAQ:SLDP - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $6.49 million for 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%.

Analyst Ratings Changes

Separately, Needham & Company LLC lifted their price objective 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 analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Solid Power has a consensus rating of "Hold" and a consensus price target of $2.50.

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.