Goldman Sachs Group Inc. Grows Stock Holdings in Solid Power, Inc. $SLDP

Goldman Sachs Group Inc. raised its position in shares of Solid Power, Inc. (NASDAQ:SLDP) by 12.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 894,120 shares of the company’s stock after purchasing an additional 100,939 shares during the period. Goldman Sachs Group Inc. owned approximately 0.50% of Solid Power worth $939,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Yaupon Capital Management LP raised its position in Solid Power by 709.1% during the first quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company’s stock valued at $3,738,000 after purchasing an additional 3,120,316 shares in the last quarter. Millennium Management LLC raised its position in Solid Power by 21.2% during the fourth quarter. Millennium Management LLC now owns 1,401,680 shares of the company’s stock valued at $2,649,000 after purchasing an additional 244,738 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Solid Power by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,214,995 shares of the company’s stock valued at $1,276,000 after purchasing an additional 51,434 shares in the last quarter. Nuveen LLC purchased a new stake in Solid Power during the first quarter valued at about $590,000. Finally, Bank of New York Mellon Corp raised its position in Solid Power by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 395,414 shares of the company’s stock valued at $415,000 after purchasing an additional 17,225 shares in the last quarter. Hedge funds and other institutional investors own 33.66% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised their price target on Solid Power from $2.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $4.00.

Solid Power Stock Performance

SLDP stock opened at $4.55 on Tuesday. The firm has a 50 day moving average price of $4.01 and a 200-day moving average price of $2.35. Solid Power, Inc. has a 52-week low of $0.68 and a 52-week high of $5.62. The firm has a market capitalization of $823.92 million, a price-to-earnings ratio of -8.74 and a beta of 1.82.

Solid Power (NASDAQ:SLDP) last released its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Solid Power had a negative net margin of 412.62% and a negative return on equity of 23.13%. The business had revenue of $6.49 million for the quarter, compared to analysts’ expectations of $5.00 million.

Solid Power 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.