Needham & Company LLC Reiterates "Buy" Rating for Solid Power (NASDAQ:SLDP)

Key Points

• Needham & Company reiterated a Buy rating on Solid Power with a $7 price target, implying roughly a 25% upside from the stock's current level.
• Analyst views are mixed—recent downgrades from Wall Street Zen and Weiss contrast with Needham's stance, and MarketBeat shows an average rating of Hold with a consensus $7 price target.
• Shares trade around $5.60 (50‑day SMA $5.27, 200‑day SMA $4.64) with a market cap near $1.07B; the company beat quarterly revenue and EPS estimates but remains unprofitable with negative margins, and a director recently sold 30,000 shares.

Solid Power (NASDAQ:SLDP - Get Free Report)'s stock had its "buy" rating reissued by analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $7.00 price target on the stock. Needham & Company LLC's price objective would indicate a potential upside of 25.00% from the stock's current price.

Other analysts have also recently issued reports about the company. Wall Street Zen cut Solid Power from a "hold" rating to a "sell" rating in a research report on Saturday, December 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Solid Power in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $7.00.

Solid Power Trading Up 2.9%

Shares of SLDP opened at $5.60 on Wednesday. The firm has a fifty day simple moving average of $5.27 and a 200 day simple moving average of $4.64. Solid Power has a 12 month low of $0.68 and a 12 month high of $8.86. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -10.57 and a beta of 1.89.

Solid Power (NASDAQ:SLDP - Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.03. Solid Power had a negative return on equity of 24.88% and a negative net margin of 429.55%.The business had revenue of $4.56 million for the quarter, compared to analyst estimates of $3.50 million.

Insiders Place Their Bets

In other Solid Power news, Director Erik J. Anderson sold 30,000 shares of the company's stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $5.20, for a total transaction of $156,000.00. Following the completion of the sale, the director directly owned 157,617 shares in the company, valued at $819,608.40. This represents a 15.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Solid Power

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Solid Power by 15.7% in the third quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company's stock valued at $32,760,000 after buying an additional 1,278,324 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Solid Power by 3,974.6% in the third quarter. Bank of America Corp DE now owns 6,495,146 shares of the company's stock worth $22,538,000 after acquiring an additional 6,335,739 shares during the last quarter. Riverstone Holdings LLC boosted its stake in shares of Solid Power by 3.7% in the 3rd quarter. Riverstone Holdings LLC now owns 4,714,816 shares of the company's stock valued at $16,360,000 after purchasing an additional 169,709 shares in the last quarter. Pure Financial Advisors LLC bought a new stake in shares of Solid Power during the 2nd quarter valued at approximately $4,668,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Solid Power by 12.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company's stock valued at $939,000 after purchasing an additional 100,939 shares during the last quarter. Institutional investors and hedge funds own 33.66% of the company's stock.

Solid Power Company Profile

Solid Power, Inc NASDAQ: SLDP is a Colorado-based company specializing in the development and manufacturing of all-solid-state rechargeable battery cells for the electric vehicle (EV) and aerospace industries. Founded in 2012 as a spin-out from the University of Colorado Boulder, Solid Power has focused on advancing solid electrolytes and high-energy battery architectures to deliver improved safety, higher energy density and longer cycle life compared with traditional lithium-ion batteries.

The company's core offerings include multilayer solid-state battery cells that utilize sulfide-based solid electrolytes and high-capacity cathode materials.

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