Solid Power (NASDAQ:SLDP) Stock Price Down 8% – Should You Sell?

Solid Power, Inc. (NASDAQ:SLDP)’s stock price was down 8% during mid-day trading on Wednesday . The company traded as low as $3.32 and last traded at $3.34. Approximately 3,244,430 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 6,087,806 shares. The stock had previously closed at $3.63.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SLDP shares. Zacks Research upgraded shares of Solid Power to a “hold” rating in a report on Tuesday, March 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Solid Power in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Power in a research report on Tuesday, April 21st. Finally, HC Wainwright started coverage on shares of Solid Power in a report on Monday, March 16th. They set a “buy” rating and a $7.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.00.

Solid Power Stock Down 8.8%

The company has a market capitalization of $744.70 million, a P/E ratio of -6.90 and a beta of 1.87. The firm has a 50-day moving average price of $3.15 and a two-hundred day moving average price of $4.04.

Solid Power (NASDAQ:SLDP) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.06. Solid Power had a negative return on equity of 21.57% and a negative net margin of 485.47%.The company had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $3.33 million. On average, analysts predict that Solid Power, Inc. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Solid Power

In related news, Director Lesa B. Roe sold 39,207 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $2.66, for a total value of $104,290.62. Following the completion of the sale, the director owned 243,975 shares in the company, valued at approximately $648,973.50. This trade represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning bought a new position in Solid Power in the second quarter worth $26,000. American Century Companies Inc. bought a new position in Solid Power in the second quarter worth $27,000. Corient Private Wealth LLC bought a new position in Solid Power in the second quarter worth $31,000. Elevation Point Wealth Partners LLC bought a new position in Solid Power in the first quarter worth $32,000. Finally, Amundi bought a new position in Solid Power in the first quarter worth $32,000. 33.66% of the stock is owned by institutional investors.

About Solid Power

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.