Solid Power (NASDAQ:SLDP) Shares Gap Up – Should You Buy?

Solid Power, Inc. (NASDAQ:SLDP)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $5.26, but opened at $5.51. Solid Power shares last traded at $5.68, with a volume of 4,715,641 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SLDP shares. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Solid Power in a research report on Wednesday, January 14th. Wall Street Zen downgraded Solid Power from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Power in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.00.

Solid Power Price Performance

The firm’s 50 day moving average price is $5.07 and its two-hundred day moving average price is $4.76. The stock has a market cap of $1.06 billion, a PE ratio of -10.51 and a beta of 1.89.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. Solid Power had a negative net margin of 429.55% and a negative return on equity of 24.88%. The company had revenue of $4.56 million during the quarter, compared to the consensus estimate of $3.50 million.

Insider Buying and Selling at Solid Power

In related news, Director Erik J. Anderson sold 30,000 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $5.20, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SLDP. AlphaCore Capital LLC purchased a new position in Solid Power during the 3rd quarter valued at about $35,000. GEM Asset Management LLC purchased a new position in Solid Power during the fourth quarter valued at approximately $42,000. Principal Financial Group Inc. bought a new stake in Solid Power during the 3rd quarter worth approximately $37,000. Spire Wealth Management lifted its stake in Solid Power by 141.8% in the 4th quarter. Spire Wealth Management now owns 10,879 shares of the company’s stock worth $46,000 after purchasing an additional 6,379 shares in the last quarter. Finally, Ground Swell Capital LLC bought a new position in Solid Power in the 3rd quarter valued at $39,000. 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.