Solid Power (NASDAQ:SLDP) Earns "Sell (D-)" Rating from Weiss Ratings

Solid Power (NASDAQ:SLDP - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Needham & Company LLC boosted their target price on shares of Solid Power from $2.00 to $4.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Solid Power presently has an average rating of "Hold" and a consensus price target of $4.00.

Solid Power Price Performance

NASDAQ:SLDP opened at $6.24 on Wednesday. The firm has a 50-day moving average of $4.19 and a 200-day moving average of $2.61. The company has a market cap of $1.13 billion, a PE ratio of -12.00 and a beta of 1.77. Solid Power has a one year low of $0.68 and a one year high of $6.75.

Solid Power (NASDAQ:SLDP - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $6.49 million for the quarter, compared to the consensus estimate of $5.00 million. Solid Power had a negative return on equity of 23.13% and a negative net margin of 412.62%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its holdings in Solid Power by 69.7% during the second quarter. Prudential Financial Inc. now owns 17,480 shares of the company's stock worth $38,000 after purchasing an additional 7,180 shares during the last quarter. Osaic Holdings Inc. boosted its stake in Solid Power by 9.0% in the second quarter. Osaic Holdings Inc. now owns 92,809 shares of the company's stock valued at $203,000 after acquiring an additional 7,683 shares during the last quarter. Creative Planning purchased a new position in Solid Power in the second quarter valued at about $26,000. American Century Companies Inc. purchased a new position in Solid Power in the second quarter valued at about $27,000. Finally, MetLife Investment Management LLC boosted its stake in Solid Power by 22.1% in the first quarter. MetLife Investment Management LLC now owns 73,184 shares of the company's stock valued at $77,000 after acquiring an additional 13,258 shares during the last quarter. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

Solid Power Company 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.

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