Virtu Financial LLC Takes $96,000 Position in 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 bought a new position in shares of Solid Power, Inc. (NASDAQ:SLDP - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 91,358 shares of the company's stock, valued at approximately $96,000. Virtu Financial LLC owned 0.05% of Solid Power at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. boosted its position in Solid Power by 9.9% during the 4th quarter. Invesco Ltd. now owns 3,802,147 shares of the company's stock worth $7,186,000 after buying an additional 342,114 shares during the period. Geode Capital Management LLC boosted its position in Solid Power by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 3,559,922 shares of the company's stock worth $6,729,000 after buying an additional 152,907 shares during the period. Millennium Management LLC boosted its position in Solid Power by 21.2% during the 4th quarter. Millennium Management LLC now owns 1,401,680 shares of the company's stock worth $2,649,000 after buying an additional 244,738 shares during the period. Northern Trust Corp boosted its position in Solid Power by 7.4% during the 4th quarter. Northern Trust Corp now owns 1,283,424 shares of the company's stock worth $2,426,000 after buying an additional 88,563 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Solid Power by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,214,995 shares of the company's stock worth $1,276,000 after purchasing an additional 51,434 shares during the last quarter. 33.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised their price target on shares of Solid Power from $2.00 to $4.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $2.50.

Solid Power Stock Up 9.1%

Solid Power stock traded up $0.3950 during mid-day trading on Friday, hitting $4.7150. 5,010,161 shares of the stock were exchanged, compared to its average volume of 5,610,303. Solid Power, Inc. has a 12 month low of $0.68 and a 12 month high of $5.62. The firm's fifty day simple moving average is $3.16 and its two-hundred day simple moving average is $1.91. The stock has a market capitalization of $854.74 million, a price-to-earnings ratio of -8.99 and a beta of 1.80.

Solid Power (NASDAQ:SLDP - Get Free Report) last released its quarterly 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 return on equity of 23.13% and a negative net margin of 412.62%.The firm had revenue of $6.49 million for the quarter, compared to the consensus estimate of $5.00 million.

Insider Buying and Selling at Solid Power

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

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.