Solid Power (NASDAQ:SLDP) Trading Down 5.3% - Time to Sell?

Key Points

• Solid Power's stock has decreased by 5.3%, trading down to $5.08, despite a trading volume increase of 9% from the previous average.
• Analyst ratings improved, with Needham & Company raising their price target to $4.00 and giving a "buy" rating.
• The company reported a quarterly EPS of ($0.14), missing expectations, but exceeding revenue estimates with $6.49 million in revenue.

Shares of Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) dropped 5.3% on Friday . The stock traded as low as $5.02 and last traded at $5.08. Approximately 5,981,785 shares were traded during trading, an increase of 9% from the average daily volume of 5,487,930 shares. The stock had previously closed at $5.37.

Analyst Ratings Changes

Separately, Needham & Company LLC upped their price objective on Solid Power from $2.00 to $4.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th.

Solid Power Stock Down 5.1%

The stock has a market cap of $913.84 million, a P/E ratio of -9.80 and a beta of 1.80. The firm has a 50 day simple moving average of $2.89 and a 200-day simple moving average of $1.80.

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

Insider Transactions at Solid Power

In other news, Director Steven H. Goldberg sold 82,365 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1.62, for a total transaction of $133,431.30. Following the transaction, the director directly owned 118,808 shares of the company's stock, valued at approximately $192,468.96. This trade represents a 40.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lesa B. Roe sold 29,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $1.69, for a total value of $49,010.00. Following the transaction, the director directly owned 239,049 shares in the company, valued at $403,992.81. This trade represents a 10.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.

Institutional Trading of Solid Power

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Solid Power by 12.3% during the fourth quarter. Vanguard Group Inc. now owns 8,353,470 shares of the company's stock worth $15,788,000 after purchasing an additional 912,649 shares during the period. Invesco Ltd. boosted its holdings in shares of Solid Power by 9.9% during the fourth quarter. Invesco Ltd. now owns 3,802,147 shares of the company's stock worth $7,186,000 after purchasing an additional 342,114 shares during the period. Yaupon Capital Management LP boosted its holdings in shares of Solid Power by 709.1% during the first quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company's stock worth $3,738,000 after purchasing an additional 3,120,316 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Solid Power by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 3,559,922 shares of the company's stock worth $6,729,000 after purchasing an additional 152,907 shares during the period. Finally, Pure Financial Advisors LLC purchased a new stake in Solid Power in the second quarter worth about $4,668,000. 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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