Solid Power (NASDAQ:SLDP) Rating Reiterated by Chardan Capital

Solid Power (NASDAQ:SLDP)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a research note issued on Wednesday, Benzinga reports. They currently have a $5.00 price target on the stock. Chardan Capital’s target price points to a potential upside of 182.49% from the company’s current price.

Several other equities analysts have also commented on SLDP. 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. DA Davidson reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Solid Power in a research note on Tuesday, March 5th.

Solid Power Stock Performance

NASDAQ SLDP opened at $1.77 on Wednesday. The stock’s fifty day moving average is $1.67 and its two-hundred day moving average is $1.53. The firm has a market capitalization of $320.53 million, a P/E ratio of -4.68 and a beta of 1.79. Solid Power has a fifty-two week low of $1.10 and a fifty-two week 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, hitting analysts’ consensus estimates of ($0.11). The company had revenue of $2.35 million for the quarter, compared to analyst estimates of $4.14 million. Solid Power had a negative return on equity of 12.55% and a negative net margin of 376.47%. As a group, sell-side analysts forecast that Solid Power will post -0.42 EPS for the current year.

Insider Activity

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $1.36, for a total transaction of $255,000.00. Following 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 is available through this hyperlink. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Solid Power

Several hedge funds have recently bought and sold shares of SLDP. SG Americas Securities LLC acquired a new position in Solid Power during the 3rd quarter worth about $108,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Solid Power by 46.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,031 shares of the company’s stock worth $57,000 after acquiring an additional 8,942 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Solid Power during the 3rd quarter worth about $72,000. Arizona State Retirement System increased its holdings in Solid Power by 25.0% during the 3rd quarter. Arizona State Retirement System now owns 40,507 shares of the company’s stock worth $82,000 after purchasing an additional 8,098 shares during the period. Finally, Western Wealth Management LLC increased its holdings in Solid Power by 158.5% during the 3rd quarter. Western Wealth Management LLC now owns 33,838 shares of the company’s stock worth $68,000 after purchasing an additional 20,750 shares during the period. Institutional investors and hedge funds own 33.66% of the company’s stock.

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.