Yaupon Capital Management LP Raises 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 holdings in Solid Power, Inc. (NASDAQ:SLDP - Free Report) by 709.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,560,365 shares of the company's stock after purchasing an additional 3,120,316 shares during the quarter. Yaupon Capital Management LP owned 1.96% of Solid Power worth $3,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLDP. Nuveen LLC bought a new stake in Solid Power during the 1st quarter worth $590,000. Bridgeway Capital Management LLC bought a new stake in Solid Power during the 4th quarter worth $662,000. Millennium Management LLC grew 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 acquiring an additional 244,738 shares during the last quarter. Goldman Sachs Group Inc. grew 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 acquiring an additional 100,939 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Solid Power during the 1st quarter worth $96,000. Institutional investors own 33.66% of the company's stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC lifted their target price on Solid Power from $2.00 to $4.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company 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 midday trading on Friday, reaching $3.80. The company's stock had a trading volume of 6,127,647 shares, compared to its average volume of 8,034,121. Solid Power, Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $5.62. The firm has a market capitalization of $688.86 million, a price-to-earnings ratio of -7.31 and a beta of 1.83. The firm has a 50 day moving average price of $3.83 and a two-hundred day moving average price of $2.23.

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