Solid Power (NASDAQ:SLDP) Trading Down 7.6% – What’s Next?

Solid Power, Inc. (NASDAQ:SLDP)’s stock price fell 7.6% on Wednesday . The stock traded as low as $4.81 and last traded at $4.7950. 4,618,197 shares were traded during trading, a decline of 25% from the average session volume of 6,159,174 shares. The stock had previously closed at $5.19.

Analysts Set New Price Targets

SLDP has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $7.00 price objective on shares of Solid Power in a research report on Wednesday, January 14th. Wall Street Zen downgraded Solid Power from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Power in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Solid Power currently has an average rating of “Hold” and an average price target of $7.00.

Solid Power Price Performance

The company has a market cap of $925.49 million, a PE ratio of -9.16 and a beta of 1.89. The business has a fifty day simple moving average of $5.03 and a two-hundred day simple moving average of $4.86.

Solid Power (NASDAQ:SLDP) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. Solid Power had a negative return on equity of 24.88% and a negative net margin of 429.55%.The firm had revenue of $4.56 million during the quarter, compared to analysts’ expectations of $3.50 million.

Insiders Place Their Bets

In other Solid Power news, Director Erik J. Anderson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $5.20, for a total value of $156,000.00. Following the completion of the sale, the director directly owned 157,617 shares in the company, valued at $819,608.40. This trade represents a 15.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of Solid Power

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Solid Power by 15.7% in the third quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company’s stock worth $32,760,000 after acquiring an additional 1,278,324 shares in the last quarter. Bank of America Corp DE raised its position in shares of Solid Power by 3,974.6% in the 3rd quarter. Bank of America Corp DE now owns 6,495,146 shares of the company’s stock valued at $22,538,000 after purchasing an additional 6,335,739 shares during the last quarter. Riverstone Holdings LLC grew its position in Solid Power by 3.7% during the 3rd quarter. Riverstone Holdings LLC now owns 4,714,816 shares of the company’s stock worth $16,360,000 after purchasing an additional 169,709 shares during the last quarter. Pure Financial Advisors LLC acquired a new position in Solid Power during the 2nd quarter valued at approximately $4,668,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Solid Power by 12.7% in the first quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company’s stock worth $939,000 after buying an additional 100,939 shares during the last quarter. Institutional investors and hedge funds 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.