Solid Power (NASDAQ:SLDP) Issues Earnings Results

Key Points

• Earnings beat: Solid Power reported Q EPS of ($0.06), beating the consensus ($0.12) by $0.06, though revenue missed at $3.07 million versus $3.33 million and the company still shows a deeply negative net margin (429.54%) and negative ROE (23.88%).
• Stock and valuation: Shares rose about 1.4% to $3.51 on Tuesday (6.29M shares traded), giving a market cap of ~$774 million and a 52-week range of $1.11–$8.86.
• Institutional buying and mixed analyst view: Large increases in holdings from Bank of America, Dimensional Fund Advisors, Vanguard and others push institutional ownership to ~33.7%, while analyst coverage is mixed (2 Buys, 1 Hold, 1 Sell) with a consensus "Hold" and an average target price of $7.00.

Solid Power (NASDAQ:SLDP - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.06, FiscalAI reports. Solid Power had a negative net margin of 429.54% and a negative return on equity of 23.88%. The firm had revenue of $3.07 million for the quarter, compared to the consensus estimate of $3.33 million.

Solid Power Stock Up 1.4%

Shares of NASDAQ:SLDP traded up $0.05 on Tuesday, reaching $3.51. 6,285,703 shares of the company's stock were exchanged, compared to its average volume of 5,743,313. Solid Power has a fifty-two week low of $1.11 and a fifty-two week high of $8.86. The business's 50-day moving average is $3.25 and its two-hundred day moving average is $4.50. The firm has a market capitalization of $774.24 million, a price-to-earnings ratio of -7.02 and a beta of 1.91.

Institutional Trading of Solid Power

A number of large investors have recently modified their holdings of SLDP. Bank of America Corp DE increased its holdings in shares of Solid Power by 3,974.6% in the 3rd 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 period. Dimensional Fund Advisors LP increased its holdings in shares of Solid Power by 5,305.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,934,653 shares of the company's stock worth $8,222,000 after acquiring an additional 1,898,859 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Solid Power in the 4th quarter worth about $7,810,000. Vanguard Group Inc. increased its holdings in shares of Solid Power by 15.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company's stock worth $32,760,000 after acquiring an additional 1,278,324 shares during the period. Finally, State Street Corp increased its holdings in shares of Solid Power by 25.9% in the 4th quarter. State Street Corp now owns 4,077,239 shares of the company's stock worth $17,328,000 after acquiring an additional 839,471 shares during the period. Institutional investors and hedge funds own 33.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLDP. Weiss Ratings reissued a "sell (d-)" rating on shares of Solid Power in a report on Tuesday, April 21st. Zacks Research raised shares of Solid Power to a "hold" rating in a report on Tuesday, March 17th. Needham & Company LLC reissued a "buy" rating and set a $7.00 target price on shares of Solid Power in a report on Wednesday, January 14th. Finally, HC Wainwright began coverage on shares of Solid Power in a report on Monday, March 16th. They set a "buy" rating and a $7.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $7.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.