Solid Power (NASDAQ:SLDP) Earns “Buy” Rating from Chardan Capital

Solid Power (NASDAQ:SLDP)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a report issued on Wednesday, Benzinga reports. They currently have a $5.00 target price on the stock. Chardan Capital’s price objective would indicate a potential upside of 187.36% from the stock’s previous close.

A number of other research analysts have also recently commented on SLDP. DA Davidson restated a “neutral” rating and issued a $3.00 price target on shares of Solid Power in a research report on Tuesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price target on shares of Solid Power in a report on Wednesday.

Solid Power Stock Performance

NASDAQ:SLDP opened at $1.74 on Wednesday. The firm has a market cap of $315.10 million, a price-to-earnings ratio of -4.70 and a beta of 1.79. Solid Power has a 52 week low of $1.10 and a 52 week high of $3.20. The firm’s 50-day simple moving average is $1.67 and its 200 day simple moving average is $1.53.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $2.35 million during the quarter, compared to the consensus estimate of $4.14 million. Solid Power had a negative net margin of 376.47% and a negative return on equity of 12.55%. Sell-side analysts anticipate that Solid Power will post -0.42 EPS for the current year.

Insider Buying and Selling

In other Solid Power news, CTO Joshua Buettner-Garrett sold 187,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $1.86, for a total value of $348,750.00. Following the transaction, the chief technology officer now directly owns 692,993 shares of the company’s stock, valued at $1,288,966.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Solid Power

Several hedge funds and other institutional investors have recently modified their holdings of SLDP. SG Americas Securities LLC bought a new stake in Solid Power during the first quarter worth $31,000. Norden Group LLC purchased a new position in shares of Solid Power during the 1st quarter valued at $29,000. Gainplan LLC purchased a new stake in shares of Solid Power in the 1st quarter valued at about $25,000. PFG Investments LLC purchased a new stake in shares of Solid Power in the 1st quarter valued at about $51,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Solid Power in the 4th quarter valued at about $253,000. Institutional investors own 33.66% of the company’s stock.

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.