Weiss Ratings Reaffirms Sell (D-) Rating for Solid Power (NASDAQ:SLDP)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Solid Power (NASDAQ:SLDP), reflecting ongoing concerns about the company's financial performance.
• Despite the negative rating from Weiss, Needham & Company LLC upgraded Solid Power's price target from $2.00 to $4.00 and issued a "buy" rating.
• Solid Power reported a quarterly loss of ($0.14) EPS, missing expectations, but achieved revenue of $6.49 million, surpassing estimates of $5.00 million.

Solid Power (NASDAQ:SLDP - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

Separately, Needham & Company LLC raised their price target on Solid Power from $2.00 to $4.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $4.00.

Solid Power Stock Performance

SLDP traded up $0.46 during mid-day trading on Friday, reaching $6.15. The stock had a trading volume of 8,909,683 shares, compared to its average volume of 17,130,632. Solid Power has a 52 week low of $0.68 and a 52 week high of $8.05. The stock has a market capitalization of $1.11 billion, a P/E ratio of -11.83 and a beta of 1.77. The firm's fifty day simple moving average is $4.72 and its two-hundred day simple moving average is $3.04.

Solid Power (NASDAQ:SLDP - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $5.00 million.

Institutional Trading of Solid Power

Several hedge funds have recently added to or reduced their stakes in SLDP. Creative Planning acquired a new stake in Solid Power during the 2nd quarter worth $26,000. American Century Companies Inc. acquired a new stake in shares of Solid Power in the 2nd quarter valued at about $27,000. Corient Private Wealth LLC acquired a new stake in shares of Solid Power in the 2nd quarter valued at about $31,000. Brown Advisory Inc. acquired a new stake in shares of Solid Power in the 2nd quarter valued at about $33,000. Finally, Fisher Asset Management LLC acquired a new stake in shares of Solid Power in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 33.66% of the company's stock.

About Solid Power

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.