Solid Power (NASDAQ:SLDP) Announces Quarterly Earnings Results

Solid Power (NASDAQ:SLDP) posted its quarterly earnings data on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02, FiscalAI reports. Solid Power had a negative net margin of 429.55% and a negative return on equity of 24.88%. The firm had revenue of ($0.20) million for the quarter, compared to the consensus estimate of $2.50 million.

Solid Power Price Performance

Shares of NASDAQ SLDP traded up $0.13 during trading on Tuesday, reaching $3.54. 5,067,289 shares of the stock traded hands, compared to its average volume of 5,929,656. The stock has a market capitalization of $676.21 million, a P/E ratio of -6.68 and a beta of 1.89. Solid Power has a 52-week low of $0.68 and a 52-week high of $8.86. The company has a 50-day moving average of $4.58 and a 200-day moving average of $4.90.

Analysts Set New Price Targets

Several research analysts recently weighed in on SLDP shares. Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Solid Power in a report on Wednesday, January 14th. Wall Street Zen cut shares of Solid Power from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Solid Power in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Solid Power currently has an average rating of “Hold” and a consensus target price of $7.00.

Insiders Place Their Bets

In related news, Director Erik J. Anderson sold 30,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $5.20, for a total value of $156,000.00. Following the sale, the director directly owned 157,617 shares in the company, valued at approximately $819,608.40. The trade was a 15.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Solid Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new stake in shares of Solid Power in the fourth quarter valued at approximately $42,000. Cibc World Markets Corp purchased a new position in Solid Power in the 4th quarter valued at approximately $43,000. Creative Planning bought a new stake in Solid Power during the 2nd quarter valued at $26,000. American Century Companies Inc. purchased a new stake in shares of Solid Power during the second quarter worth $27,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Solid Power during the third quarter worth $45,000. Institutional investors own 33.66% of the company’s stock.

Solid Power Company Profile

Solid Power, Inc (NASDAQ: SLDP) is a Colorado-based company specializing in the development and manufacturing of all-solid-state rechargeable battery cells for the electric vehicle (EV) and aerospace industries. Founded in 2012 as a spin-out from the University of Colorado Boulder, Solid Power has focused on advancing solid electrolytes and high-energy battery architectures to deliver improved safety, higher energy density and longer cycle life compared with traditional lithium-ion batteries.

The company’s core offerings include multilayer solid-state battery cells that utilize sulfide-based solid electrolytes and high-capacity cathode materials.