Solid Power’s (SLDP) “Buy” Rating Reaffirmed at Chardan Capital

Chardan Capital reissued their buy rating on shares of Solid Power (NASDAQ:SLDP) in a research note published on Wednesday, Benzinga reports. The brokerage currently has a $5.00 price target on the stock.

Several other brokerages have also commented on SLDP. DA Davidson restated a neutral rating and issued a $3.00 price objective on shares of Solid Power in a report on Tuesday, March 5th. Needham & Company LLC restated a buy rating and set a $3.00 price target on shares of Solid Power in a research report on Wednesday.

Solid Power Stock Down 0.6 %

Shares of NASDAQ:SLDP opened at $1.73 on Wednesday. The stock has a market cap of $313.29 million, a PE ratio of -4.70 and a beta of 1.79. The company’s fifty day moving average is $1.67 and its 200 day moving average is $1.53. Solid Power has a 52 week low of $1.10 and a 52 week high of $3.20.

Solid Power (NASDAQ:SLDP) last announced its earnings results on Tuesday, February 27th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Solid Power had a negative return on equity of 12.55% and a negative net margin of 376.47%. The company had revenue of $2.35 million during the quarter, compared to the consensus estimate of $4.14 million. Sell-side analysts anticipate that Solid Power will post -0.42 EPS for the current year.

Insider Activity at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $1.86, for a total value of $348,750.00. Following the completion of the sale, the chief technology officer now directly owns 692,993 shares in the company, valued at approximately $1,288,966.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is owned by insiders.

Institutional Trading of Solid Power

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