Yaupon Capital Management LP Has $3.74 Million Stock Position in Solid Power, Inc. $SLDP

Key Points

• Yaupon Capital Management LP significantly increased its stake in Solid Power, Inc. by 709.1%, now owning approximately 1.96% of the company worth $3.74 million after acquiring over 3.1 million shares.
• Solid Power's stock received a buy rating from Needham & Company LLC, with the price target raised to $4.00, signaling investor confidence in the company.
• Despite a revenue of $6.49 million in its last quarter, Solid Power reported an EPS loss of ($0.14), missing market expectations of ($0.12).

Yaupon Capital Management LP raised its stake in Solid Power, Inc. (NASDAQ:SLDP - Free Report) by 709.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,560,365 shares of the company's stock after acquiring an additional 3,120,316 shares during the quarter. Yaupon Capital Management LP owned about 1.96% of Solid Power worth $3,738,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Solid Power during the 1st quarter worth approximately $590,000. Bridgeway Capital Management LLC acquired a new position in Solid Power in the 4th quarter valued at $662,000. Millennium Management LLC increased 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. Goldman Sachs Group Inc. increased its position in Solid Power by 12.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company's stock worth $939,000 after buying an additional 100,939 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Solid Power during the first quarter worth $96,000. Institutional investors own 33.66% of the company's stock.

Analyst Ratings Changes

Separately, Needham & Company LLC upped their price target on shares of Solid Power from $2.00 to $4.00 and gave the company a "buy" rating in a research note 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 target price of $4.00.

Solid Power Stock Performance

Shares of NASDAQ SLDP traded up $0.12 during mid-day trading on Thursday, reaching $3.68. The company had a trading volume of 6,662,827 shares, compared to its average volume of 8,714,329. The firm has a market cap of $667.11 million, a price-to-earnings ratio of -7.08 and a beta of 1.83. The business's 50-day simple moving average is $3.80 and its 200 day simple moving average is $2.20. Solid Power, Inc. has a one year low of $0.68 and a one year high of $5.62.

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 firm had revenue of $6.49 million for the quarter, compared to analyst estimates of $5.00 million. Solid Power had a negative return on equity of 23.13% and a negative net margin of 412.62%.

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.