Solid Power (NASDAQ:SLDP) Rating Reiterated by Needham & Company LLC

Solid Power (NASDAQ:SLDP)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They presently have a $3.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 70.45% from the company’s current price.

Other analysts have also recently issued reports about the company. Chardan Capital restated a “buy” rating and set a $5.00 price target on shares of Solid Power in a report on Wednesday, February 28th. DA Davidson reaffirmed a “neutral” rating and set a $3.00 target price on shares of Solid Power in a research report on Tuesday, March 5th.

Solid Power Price Performance

SLDP stock opened at $1.76 on Wednesday. The stock has a market cap of $318.72 million, a price-to-earnings ratio of -4.78 and a beta of 1.79. The company has a 50 day simple moving average of $1.67 and a 200 day simple moving average of $1.53. Solid Power has a 1 year low of $1.10 and a 1 year high of $3.20.

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

Insider Buying and Selling

In other Solid Power news, CTO Joshua Buettner-Garrett sold 187,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $1.36, for a total transaction of $255,000.00. Following the sale, the chief technology officer now owns 336,539 shares of the company’s stock, valued at $457,693.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Solid Power

A number of institutional investors and hedge funds have recently modified their holdings of SLDP. Arizona State Retirement System increased its stake in shares of Solid Power by 25.0% in the 3rd quarter. Arizona State Retirement System now owns 40,507 shares of the company’s stock valued at $82,000 after acquiring an additional 8,098 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Solid Power by 46.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,031 shares of the company’s stock valued at $57,000 after purchasing an additional 8,942 shares during the period. Brave Asset Management Inc. raised its holdings in shares of Solid Power by 90.9% during the fourth quarter. Brave Asset Management Inc. now owns 21,000 shares of the company’s stock valued at $30,000 after purchasing an additional 10,000 shares during the period. C M Bidwell & Associates Ltd. boosted its position in shares of Solid Power by 70.8% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 24,753 shares of the company’s stock worth $50,000 after purchasing an additional 10,262 shares in the last quarter. Finally, Spire Wealth Management grew its stake in shares of Solid Power by 141.2% in the 3rd quarter. Spire Wealth Management now owns 20,500 shares of the company’s stock valued at $41,000 after buying an additional 12,000 shares during the period. 33.66% of the stock is currently owned by institutional investors.

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.