Solid Power (NASDAQ:SLDP) Earns Buy Rating from Needham & Company LLC

Solid Power (NASDAQ:SLDP)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $2.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 22.70% from the stock’s previous close.

Solid Power Trading Down 1.2 %

Shares of NASDAQ:SLDP opened at $1.63 on Wednesday. Solid Power has a 52 week low of $1.00 and a 52 week high of $2.70. The company’s 50 day moving average is $1.38 and its two-hundred day moving average is $1.44. The company has a market cap of $294.04 million, a PE ratio of -3.33 and a beta of 1.45.

Insider Buying and Selling at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $1.07, for a total value of $200,625.00. Following the completion of the transaction, the chief technology officer now directly owns 869,720 shares of the company’s stock, valued at $930,600.40. This represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 562,500 shares of company stock worth $793,125 over the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Solid Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLDP. American Century Companies Inc. acquired a new position in shares of Solid Power in the 2nd quarter valued at $60,000. Intech Investment Management LLC acquired a new position in Solid Power in the third quarter valued at $62,000. Silver Lake Advisory LLC purchased a new position in shares of Solid Power during the second quarter worth about $69,000. SG Americas Securities LLC increased its position in shares of Solid Power by 115.0% during the third quarter. SG Americas Securities LLC now owns 59,797 shares of the company’s stock worth $81,000 after purchasing an additional 31,978 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Solid Power by 71.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 61,044 shares of the company’s stock valued at $101,000 after purchasing an additional 25,520 shares during the last quarter. Institutional investors and hedge funds own 33.66% of the company’s stock.

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.