Solid Power (NASDAQ:SLDP) Issues Earnings Results

Solid Power (NASDAQ:SLDP) released its earnings results on Tuesday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.06, FiscalAI reports. The company had revenue of $3.07 million for the quarter, compared to the consensus estimate of $3.33 million. Solid Power had a negative net margin of 429.54% and a negative return on equity of 23.88%.

Here are the key takeaways from Solid Power’s conference call:

• Completed site acceptance testing with SK On in April, meaning Solid Power technology is now deployed on production lines across three continents (Colorado, BMW in Germany, SK On in Korea), marking a key commercialization milestone.
• Construction is underway and factory acceptance testing for key equipment is complete for the continuous electrolyte manufacturing pilot line, expected to be commissioned by year-end to enable a shift from batch to continuous processing and deliver cost and scale advantages.
• Continued customer engagement with electrolyte deliveries to Samsung SDI under the three-way Joint Evaluation Agreement with BMW and ongoing sampling with other partners, supporting development and potential long-term supply relationships.
• Balance sheet remains strong with total liquidity of $435.3 million after the January registered direct offering, plus $12.7 million of contract assets and $17.1 million of current liabilities, supporting near-term development plans.
• Q1 results showed revenue and grant income of $3.1 million against an operating loss of $26.3 million and a net loss of $13 million ($0.06 per share), underscoring ongoing cash burn and the need for continued financial discipline.

Solid Power Trading Down 3.6%

Shares of SLDP stock traded down $0.13 during trading hours on Wednesday, hitting $3.39. 8,459,249 shares of the company were exchanged, compared to its average volume of 5,809,883. The business has a 50 day moving average of $3.25 and a two-hundred day moving average of $4.47. Solid Power has a 52 week low of $1.12 and a 52 week high of $8.86. The company has a market capitalization of $746.66 million, a PE ratio of -6.77 and a beta of 1.91.

Analyst Ratings Changes

A number of analysts recently weighed in on SLDP shares. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price target on shares of Solid Power in a research report on Wednesday. HC Wainwright started coverage on shares of Solid Power in a research report on Monday, March 16th. They issued 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Solid Power currently has a consensus rating of “Hold” and an average target price of $7.00.

Institutional Investors Weigh In On Solid Power

Several large investors have recently made changes to their positions in the stock. Engineers Gate Manager LP increased its position 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 worth $429,000 after acquiring an additional 4,220 shares in the last quarter. LPL Financial LLC grew its stake in shares of Solid Power by 22.0% during the 4th quarter. LPL Financial LLC now owns 30,289 shares of the company’s stock worth $129,000 after acquiring an additional 5,461 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Solid Power by 69.7% during the 2nd quarter. Prudential Financial Inc. now owns 17,480 shares of the company’s stock worth $38,000 after acquiring an additional 7,180 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Solid Power by 9.0% during the 2nd quarter. Osaic Holdings Inc. now owns 92,809 shares of the company’s stock worth $203,000 after acquiring an additional 7,683 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Solid Power by 45.7% during the 4th quarter. HighTower Advisors LLC now owns 25,044 shares of the company’s stock worth $106,000 after acquiring an additional 7,858 shares in the last quarter. 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.