Solid Power (NASDAQ:SLDP) Hits New 52-Week High - Still a Buy?

Key Points

• Solid Power, Inc. (NASDAQ:SLDP) achieved a new 52-week high at $7.38 during trading, closing at $6.85 with a volume of over 11 million shares.
• Analyst ratings show a mix of opinions, with Needham & Company raising their price target from $2.00 to $4.00 and assigning a "buy" rating, while Weiss Ratings maintains a "sell (d-)" rating.
• The company reported a revenue of $6.49 million for the last quarter but posted a loss of ($0.14) EPS, missing expectations, while 33.66% of the stock is owned by institutional investors.

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.38 and last traded at $6.85, with a volume of 11079987 shares traded. The stock had previously closed at $6.30.

Analyst Ratings Changes

SLDP has been the topic of several research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Solid Power in a research note on Wednesday, October 8th. Needham & Company LLC boosted 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 equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $4.00.

Solid Power Trading Up 12.8%

The stock has a market cap of $1.29 billion, a P/E ratio of -13.64 and a beta of 1.77. The stock has a 50 day simple moving average of $4.36 and a 200 day simple moving average of $2.74.

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

Institutional Trading of Solid Power

Institutional investors and hedge funds have recently modified their holdings of the business. Yaupon Capital Management LP grew its holdings in shares of Solid Power by 709.1% during the 1st quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company's stock valued at $3,738,000 after purchasing an additional 3,120,316 shares during the last quarter. Pure Financial Advisors LLC bought a new stake in shares of Solid Power during the second quarter worth about $4,668,000. Charles Schwab Investment Management Inc. raised its holdings in Solid Power by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,214,995 shares of the company's stock valued at $1,276,000 after buying an additional 51,434 shares during the last quarter. Goldman Sachs Group Inc. boosted 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, Nuveen LLC acquired a new stake in Solid Power during the 1st quarter worth approximately $590,000. 33.66% of the stock is currently owned by 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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