Solid Power, Inc. (NASDAQ:SLDP – Get Rating) was the target of unusually large options trading on Thursday. Traders acquired 7,517 call options on the stock. This represents an increase of 1,343% compared to the average daily volume of 521 call options.
Analysts Set New Price Targets
Several research firms have weighed in on SLDP. Cowen began coverage on Solid Power in a research note on Monday, October 31st. They issued a “market perform” rating for the company. Citigroup began coverage on Solid Power in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $3.00 price target for the company. DA Davidson downgraded Solid Power from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $13.00 to $5.00 in a research note on Wednesday, November 30th. Cowen began coverage on Solid Power in a research note on Monday, October 31st. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus started coverage on Solid Power in a research note on Friday, December 2nd. They issued a “hold” rating and a $5.00 price target for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.80.
Institutional Trading of Solid Power
Several hedge funds and other institutional investors have recently bought and sold shares of SLDP. Commonwealth Equity Services LLC raised its holdings in Solid Power by 8.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 20,437 shares of the company’s stock valued at $177,000 after buying an additional 1,650 shares during the period. Victory Capital Management Inc. purchased a new stake in Solid Power during the 1st quarter valued at $137,000. Raymond James & Associates raised its holdings in Solid Power by 37.2% during the 1st quarter. Raymond James & Associates now owns 23,702 shares of the company’s stock valued at $205,000 after buying an additional 6,430 shares during the period. Bank of New York Mellon Corp purchased a new stake in Solid Power during the 1st quarter valued at $429,000. Finally, Citigroup Inc. purchased a new stake in Solid Power during the 1st quarter valued at $198,000. Hedge funds and other institutional investors own 33.97% of the company’s stock.
Solid Power Stock Down 0.8 %
Shares of SLDP traded down $0.02 during mid-day trading on Thursday, hitting $2.40. 131,726 shares of the stock were exchanged, compared to its average volume of 2,616,764. Solid Power has a 52-week low of $2.15 and a 52-week high of $10.95. The firm has a 50-day moving average of $4.36 and a two-hundred day moving average of $5.58.
Solid Power (NASDAQ:SLDP – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $2.81 million for the quarter. Solid Power had a return on equity of 6.09% and a net margin of 392.40%. As a group, equities analysts expect that Solid Power will post -0.16 earnings per share for the current fiscal year.
Solid Power Company Profile
Solid Power, Inc focuses on the development and commercialization of all-solid-state battery cells and solid electrolyte materials for the battery-powered electric vehicle market in the United States. The company was founded in 2011 and is headquartered in Louisville, Colorado.