Solid Power (NASDAQ:SLDP) Given Buy Rating at Needham & Company LLC

Solid Power (NASDAQ:SLDP - Get Free Report)'s stock had its "buy" rating restated by analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $2.00 price target on the stock. Needham & Company LLC's target price points to a potential upside of 21.21% from the company's previous close.

Solid Power Price Performance

NASDAQ SLDP traded up $0.11 during trading on Wednesday, hitting $1.65. The company's stock had a trading volume of 4,604,609 shares, compared to its average volume of 7,200,670. Solid Power has a fifty-two week low of $1.00 and a fifty-two week high of $2.70. The company has a market cap of $297.64 million, a PE ratio of -3.37 and a beta of 1.45. The business's 50 day simple moving average is $1.37 and its 200-day simple moving average is $1.44.

Insider Transactions at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $1.07, for a total transaction of $200,625.00. Following the sale, the chief technology officer now directly owns 869,720 shares of the company's stock, valued at $930,600.40. This trade represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 562,500 shares of company stock worth $793,125. Company insiders own 7.20% of the company's stock.

Institutional Trading of Solid Power

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Solid Power by 0.7% during the third quarter. State Street Corp now owns 2,962,235 shares of the company's stock worth $3,999,000 after buying an additional 19,209 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Solid Power by 71.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 61,044 shares of the company's stock worth $101,000 after buying an additional 25,520 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Solid Power by 115.0% during the 3rd quarter. SG Americas Securities LLC now owns 59,797 shares of the company's stock valued at $81,000 after buying an additional 31,978 shares during the period. American Century Companies Inc. acquired a new position in Solid Power in the second quarter valued at approximately $60,000. Finally, Silver Lake Advisory LLC acquired a new position in Solid Power in the second quarter valued at approximately $69,000. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

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.