Solid Power (NASDAQ:SLDP) Shares Gap Up - Time to Buy?

Key Points

• Gapped up: SLDP opened at $3.75 after closing at $3.26 and was last quoted at $3.3450, with heavy volume of about 7.42 million shares traded.
• Mixed analyst sentiment: Two analysts rate SLDP a Buy, one Hold and one Sell, giving an average rating of Hold and an average target price of $7.00.
• Weak fundamentals despite an EPS beat: The company reported a ($0.14) EPS that beat estimates by $0.02 but generated just $0.86M in revenue and a very negative net margin (‑429.54%); market cap is ~$740M and the 50‑day moving average ($3.30) sits below the 200‑day ($4.63).

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $3.26, but opened at $3.75. Solid Power shares last traded at $3.3450, with a volume of 7,421,638 shares trading hands.

Analyst Ratings Changes

SLDP has been the topic of a number of recent research reports. Zacks Research upgraded shares of Solid Power to a "hold" rating in a research report on Tuesday, March 17th. Wall Street Zen cut shares of Solid Power from a "hold" rating to a "sell" rating in a research report on Saturday, December 20th. Needham & Company LLC reiterated a "buy" rating and set a $7.00 price target on shares of Solid Power in a research report on Wednesday, January 14th. 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. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Solid Power in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $7.00.

Solid Power Price Performance

The stock has a market cap of $740.04 million, a PE ratio of -6.73 and a beta of 1.94. The business has a 50 day moving average price of $3.30 and a two-hundred day moving average price of $4.63.

Solid Power (NASDAQ:SLDP - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.02. The firm had revenue of $0.86 million during the quarter, compared to analyst estimates of $2.50 million. Solid Power had a negative return on equity of 23.88% and a negative net margin of 429.54%.

Institutional Trading of Solid Power

A number of institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP boosted its stake in shares of Solid Power by 4.4% during the fourth quarter. Engineers Gate Manager LP now owns 100,896 shares of the company's stock valued at $429,000 after purchasing an additional 4,220 shares during the period. Allworth Financial LP lifted its stake in Solid Power by 82.6% in the fourth quarter. Allworth Financial LP now owns 11,246 shares of the company's stock worth $48,000 after acquiring an additional 5,087 shares during the period. LPL Financial LLC lifted its stake in Solid Power by 22.0% in the fourth quarter. LPL Financial LLC now owns 30,289 shares of the company's stock worth $129,000 after acquiring an additional 5,461 shares during the period. SBI Securities Co. Ltd. lifted its stake in Solid Power by 17.2% in the third quarter. SBI Securities Co. Ltd. now owns 37,683 shares of the company's stock worth $131,000 after acquiring an additional 5,526 shares during the period. Finally, Spire Wealth Management lifted its stake in Solid Power by 141.8% in the fourth quarter. Spire Wealth Management now owns 10,879 shares of the company's stock worth $46,000 after acquiring an additional 6,379 shares during the period. Hedge funds and other institutional investors own 33.66% of the company's stock.

About Solid Power

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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