Solid Power (NASDAQ:SLDP) Shares Down 3%

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $3.00 price objective on shares of Solid Power in a research note on Wednesday, February 28th. DA Davidson restated a “neutral” rating and issued a $3.00 price target on shares of Solid Power in a research note on Tuesday, March 5th. Finally, Chardan Capital restated a “buy” rating and issued a $5.00 price target on shares of Solid Power in a research note on Wednesday, February 28th.

Solid Power Stock Down 3.0 %

The firm has a market cap of $296.99 million, a PE ratio of -4.43 and a beta of 1.76. The business has a 50-day moving average price of $1.65 and a two-hundred day moving average price of $1.53.

Solid Power (NASDAQ:SLDP) last announced its earnings results on Tuesday, February 27th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Solid Power had a negative net margin of 376.47% and a negative return on equity of 12.55%. The business had revenue of $2.35 million during the quarter, compared to the consensus estimate of $4.14 million. On average, equities research analysts predict that Solid Power, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $1.86, for a total transaction of $348,750.00. Following the completion of the transaction, the chief technology officer now directly owns 692,993 shares of the company’s stock, valued at $1,288,966.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 562,500 shares of company stock valued at $900,000 over the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Gainplan LLC acquired a new position in shares of Solid Power in the 1st quarter valued at $25,000. Norden Group LLC acquired a new position in shares of Solid Power in the 1st quarter valued at $29,000. Brave Asset Management Inc. boosted its holdings in shares of Solid Power by 90.9% in the 4th quarter. Brave Asset Management Inc. now owns 21,000 shares of the company’s stock valued at $30,000 after purchasing an additional 10,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Solid Power in the 4th quarter valued at $37,000. Finally, Spire Wealth Management raised its stake in shares of Solid Power by 141.2% in the 3rd 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 during the period. 33.66% of the stock is 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.