Solid Power (NASDAQ:SLDP) Price Target Cut to $2.00 by Analysts at Needham & Company LLC

Solid Power (NASDAQ:SLDP - Get Free Report) had its price objective lowered by Needham & Company LLC from $3.00 to $2.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price suggests a potential upside of 71.67% from the stock's previous close.

Separately, Wolfe Research assumed coverage on shares of Solid Power in a research report on Thursday, September 5th. They set an "underperform" rating and a $1.00 target price for the company.

Solid Power Trading Up 0.4 %

Shares of NASDAQ:SLDP traded up $0.01 on Monday, hitting $1.17. 2,535,518 shares of the company were exchanged, compared to its average volume of 2,364,102. Solid Power has a 1-year low of $1.06 and a 1-year high of $2.35. The stock's 50 day moving average price is $1.28 and its 200 day moving average price is $1.56. The firm has a market capitalization of $208.49 million, a P/E ratio of -2.35 and a beta of 1.74.

Insider Activity at Solid Power

In other Solid Power news, Director Steven H. Goldberg sold 59,197 shares of Solid Power stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $1.45, for a total value of $85,835.65. Following the completion of the transaction, the director now owns 82,365 shares of the company's stock, valued at approximately $119,429.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Steven H. Goldberg sold 59,197 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $1.45, for a total transaction of $85,835.65. Following the completion of the sale, the director now owns 82,365 shares of the company's stock, valued at $119,429.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Joshua Buettner-Garrett sold 187,500 shares of the business's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $1.26, for a total transaction of $236,250.00. Following the sale, the chief technology officer now directly owns 869,720 shares of the company's stock, valued at $1,095,847.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,697 shares of company stock worth $815,211 over the last three months. Company insiders own 7.20% of the company's stock.

Institutional Trading of Solid Power

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in Solid Power by 79.6% during the second quarter. SG Americas Securities LLC now owns 27,819 shares of the company's stock worth $46,000 after acquiring an additional 12,328 shares during the last quarter. Norden Group LLC acquired a new position in Solid Power during the first quarter worth about $29,000. Paloma Partners Management Co acquired a new position in Solid Power during the first quarter worth about $48,000. Vanguard Personalized Indexing Management LLC boosted its position in Solid Power by 71.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 61,044 shares of the company's stock worth $101,000 after acquiring an additional 25,520 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in Solid Power during the second quarter worth about $60,000. Hedge funds and other institutional investors 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.