Solid Power (NASDAQ:SLDP) Trading Down 3%

Solid Power, Inc. (NASDAQ:SLDP) shares fell 3% during trading on Thursday . The company traded as low as $1.61 and last traded at $1.64. 1,016,006 shares traded hands during trading, a decline of 71% from the average session volume of 3,444,671 shares. The stock had previously closed at $1.69.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Solid Power in a report on Tuesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price target on shares of Solid Power in a research note on Wednesday, February 28th. Finally, Chardan Capital reiterated a “buy” rating and set a $5.00 price objective on shares of Solid Power in a research note on Wednesday, February 28th.

Solid Power Price Performance

The company has a fifty day simple moving average of $1.65 and a 200-day simple moving average of $1.53.

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

Insiders Place Their Bets

In other Solid Power news, CTO Joshua Buettner-Garrett sold 187,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $1.36, for a total value of $255,000.00. Following the completion of the transaction, the chief technology officer now directly owns 336,539 shares in the company, valued at $457,693.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 562,500 shares of company stock worth $900,000. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Solid Power

A number of hedge funds have recently modified their holdings of the business. Gainplan LLC purchased a new position in Solid Power during the first quarter valued at approximately $25,000. Norden Group LLC acquired a new stake in shares of Solid Power during the 1st quarter valued at $29,000. Spire Wealth Management grew its holdings in shares of Solid Power by 141.2% during the 3rd quarter. Spire Wealth Management now owns 20,500 shares of the company’s stock valued at $41,000 after acquiring an additional 12,000 shares in the last quarter. Brave Asset Management Inc. increased its stake in shares of Solid Power by 90.9% in the fourth quarter. Brave Asset Management Inc. now owns 21,000 shares of the company’s stock worth $30,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Kure Advisory LLC bought a new position in shares of Solid Power in the 3rd quarter valued at approximately $43,000. Hedge funds and other 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.