Solid Power (NASDAQ:SLDP) Shares Down 3%

Solid Power, Inc. (NASDAQ:SLDP) dropped 3% on Thursday . The company traded as low as $1.61 and last traded at $1.64. Approximately 1,016,006 shares were traded 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 Analyst Weigh In

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

Solid Power Trading Down 3.0 %

The firm has a fifty day moving average of $1.65 and a two-hundred day moving average of $1.53. The company has a market capitalization of $296.99 million, a PE ratio of -4.43 and a beta of 1.76.

Solid Power (NASDAQ:SLDP) last released its earnings results on Tuesday, February 27th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $2.35 million during the quarter, compared to analysts’ expectations 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 analysts expect that Solid Power, Inc. will post -0.42 EPS for the current fiscal year.

Insider Activity at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the firm’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 transaction, the chief technology officer now owns 336,539 shares of the company’s stock, valued at approximately $457,693.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 562,500 shares of company stock valued at $900,000 in the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Solid Power

Institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank lifted its position in Solid Power by 24.4% during the third quarter. Swiss National Bank now owns 312,700 shares of the company’s stock valued at $632,000 after purchasing an additional 61,400 shares in the last quarter. Chase Investment Counsel Corp purchased a new position in shares of Solid Power in the third quarter valued at about $84,000. Kestra Advisory Services LLC lifted its position in shares of Solid Power by 335.9% in the third quarter. Kestra Advisory Services LLC now owns 110,787 shares of the company’s stock valued at $224,000 after acquiring an additional 85,369 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Solid Power by 46.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,031 shares of the company’s stock valued at $57,000 after acquiring an additional 8,942 shares in the last quarter. Finally, Spire Wealth Management lifted its position in shares of Solid Power by 141.2% in the third 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. 33.66% of the stock is currently owned by hedge funds and other 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.