Solid Power (NASDAQ:SLDP) Shares Down 3%

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

Wall Street Analysts Forecast Growth

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

Solid Power Stock Up 4.3 %

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

Solid Power (NASDAQ:SLDP) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.14 million. As a group, research analysts anticipate that Solid Power, Inc. will post -0.42 EPS for the current year.

Insider Transactions at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $1.36, for a total transaction of $255,000.00. Following the completion of the sale, the chief technology officer now owns 336,539 shares in the company, valued at $457,693.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 562,500 shares of company stock valued at $900,000. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Solid Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SLDP. Gainplan LLC purchased a new position in Solid Power in the 1st quarter valued at $25,000. Norden Group LLC purchased a new stake in shares of Solid Power in the first quarter valued at about $29,000. Brave Asset Management Inc. boosted its holdings 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 valued at $30,000 after acquiring an additional 10,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Solid Power in the 4th quarter valued at approximately $37,000. Finally, Spire Wealth Management raised its position in Solid Power by 141.2% in the third quarter. Spire Wealth Management now owns 20,500 shares of the company’s stock worth $41,000 after acquiring an additional 12,000 shares in the last quarter. 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.