Solid Power (NASDAQ:SLDP) Posts Earnings Results, Misses Estimates By $0.06 EPS

Solid Power (NASDAQ:SLDP) posted its earnings results on Tuesday. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06), Zacks reports. The business had revenue of $5.08 million during the quarter, compared to the consensus estimate of $13.11 million. Solid Power had a negative return on equity of 13.32% and a negative net margin of 345.37%. During the same period in the prior year, the firm earned ($0.07) earnings per share.

Solid Power Stock Down 17.4 %

Shares of Solid Power stock traded down $0.28 during trading on Wednesday, reaching $1.31. 5,720,469 shares of the company were exchanged, compared to its average volume of 2,748,323. The business has a 50-day moving average price of $1.79 and a 200-day moving average price of $1.71. The firm has a market capitalization of $231.91 million, a price-to-earnings ratio of -3.66 and a beta of 1.77. Solid Power has a twelve month low of $1.10 and a twelve month high of $2.88.

Analyst Upgrades and Downgrades

SLDP has been the topic of a number of recent analyst reports. Chardan Capital reissued a “buy” rating and issued a $5.00 price target on shares of Solid Power in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price target on shares of Solid Power in a research report on Wednesday.

Insider Buying and Selling at Solid Power

In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $1.66, for a total transaction of $311,250.00. Following the completion of the transaction, the chief technology officer now directly owns 683,057 shares in the company, valued at approximately $1,133,874.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 562,500 shares of company stock worth $937,500 over the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

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.