Solid Power (NASDAQ:SLDP) Sees Strong Trading Volume - Here's Why

Key Points

• Unusually high trading volume: About 6,552,851 shares traded on Tuesday (up 24% from the prior session), with the stock last quoted at $3.8520 versus a $3.40 close.
• Mixed analyst views with a "Hold" consensus: Two Buy, one Hold and one Sell rating leave a MarketBeat consensus of "Hold" and a $7.00 average price target.
• Weak fundamentals despite a small EPS beat: Solid Power reported -$0.14 EPS (vs. -$0.16 expected) but missed revenue ($0.86M vs. $2.50M), carries a negative net margin (429.54%), and trades below its 200-day SMA ($4.63) with a market cap of $790.78M.

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 6,552,851 shares were traded during trading, an increase of 24% from the previous session's volume of 5,290,562 shares.The stock last traded at $3.8520 and had previously closed at $3.40.

Analyst Ratings Changes

SLDP has been the topic of a number of recent research reports. HC Wainwright initiated coverage on shares of Solid Power in a research report on Monday, March 16th. They set a "buy" rating and a $7.00 price target on the stock. Zacks Research upgraded shares of Solid Power to a "hold" rating in a research report on Tuesday, March 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Solid Power in a research report on Thursday, January 22nd. Finally, Needham & Company LLC restated a "buy" rating and set a $7.00 price target on shares of Solid Power in a research report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $7.00.

Solid Power Stock Performance

The company's fifty day simple moving average is $3.26 and its two-hundred day simple moving average is $4.63. The stock has a market capitalization of $790.78 million, a PE ratio of -7.19 and a beta of 1.94.

Solid Power (NASDAQ:SLDP - Get Free Report) last posted its earnings results on Tuesday, February 24th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. The firm had revenue of $0.86 million during the quarter, compared to the consensus estimate of $2.50 million. Solid Power had a negative net margin of 429.54% and a negative return on equity of 23.88%. Sell-side analysts forecast that Solid Power, Inc. will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in Solid Power by 12.7% during the first quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company's stock valued at $939,000 after buying an additional 100,939 shares in the last quarter. Creative Planning purchased a new stake in shares of Solid Power in the second quarter worth approximately $26,000. American Century Companies Inc. purchased a new stake in shares of Solid Power in the second quarter worth approximately $27,000. Prudential Financial Inc. lifted its position in shares of Solid Power by 69.7% in 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 in the last quarter. Finally, Brown Advisory Inc. purchased a new stake in shares of Solid Power in the second quarter worth approximately $33,000. Institutional investors 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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