Solid Power (NASDAQ:SLDP) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Solid Power (SLDP) from "hold" to "sell", joining Weiss Ratings' "sell" while Needham remains a buyer; the consensus rating is still an average "hold" with a $7 average price target.
• Solid Power beat its latest quarterly estimates (EPS -$0.14 vs. -$0.17 expected; revenue $4.56M vs. $3.50M expected) but stays unprofitable with a deeply negative net margin and negative ROE, and the stock trades around $4.69 with a market cap near $896M.
• Notable insider and institutional activity: Director Erik J. Anderson sold 30,000 shares at about $5.20 (reducing his stake ~16%), while institutional investors—including Bank of America and Vanguard—have significantly increased holdings, leaving roughly 33.7% owned by institutions.

Solid Power (NASDAQ:SLDP - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Other research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Solid Power in a research report on Wednesday, October 8th. Needham & Company LLC boosted their price objective on Solid Power from $4.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $7.00.

Solid Power Stock Up 4.0%

SLDP stock opened at $4.69 on Friday. Solid Power has a 12-month low of $0.68 and a 12-month high of $8.86. The firm has a market cap of $895.88 million, a PE ratio of -8.85 and a beta of 1.87. The business has a 50 day moving average of $5.71 and a 200-day moving average of $4.25.

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

Insider Activity

In related news, Director Erik J. Anderson sold 30,000 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $5.20, for a total transaction of $156,000.00. Following the sale, the director owned 157,617 shares of the company's stock, valued at approximately $819,608.40. This represents a 15.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Solid Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. 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 buying an additional 6,335,739 shares in the last quarter. Yaupon Capital Management LP lifted its stake in Solid Power by 709.1% in the 1st quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company's stock worth $3,738,000 after purchasing an additional 3,120,316 shares in the last quarter. Pure Financial Advisors LLC bought a new position in Solid Power in the 2nd quarter valued at $4,668,000. Vanguard Group Inc. boosted its holdings in Solid Power by 15.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company's stock valued at $32,760,000 after purchasing an additional 1,278,324 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Solid Power during the 1st quarter valued at $590,000. 33.66% of the stock is currently owned by institutional investors.

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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