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 equities researchers 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 price target would suggest a potential upside of 22.70% from the company's previous close.

Solid Power Trading Down 1.2 %

SLDP traded down $0.02 during midday trading on Wednesday, reaching $1.63. The company's stock had a trading volume of 2,203,992 shares, compared to its average volume of 6,703,218. The stock has a market cap of $294.04 million, a P/E ratio of -3.33 and a beta of 1.45. The company has a fifty day simple moving average of $1.38 and a 200 day simple moving average of $1.44. Solid Power has a twelve month low of $1.00 and a twelve month high of $2.70.

Insider Buying and Selling at Solid Power

In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $2.09, for a total transaction of $391,875.00. Following the sale, the chief technology officer now owns 865,304 shares of the company's stock, valued at approximately $1,808,485.36. This trade represents a 17.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 562,500 shares of company stock valued at $793,125 in the last 90 days. 7.20% of the stock is currently owned by insiders.

Institutional Trading of Solid Power

Institutional investors have recently modified their holdings of the company. American Century Companies Inc. acquired a new stake in shares of Solid Power during the 2nd quarter worth approximately $60,000. Intech Investment Management LLC acquired a new stake in shares of Solid Power during the 3rd quarter worth approximately $62,000. Silver Lake Advisory LLC acquired a new stake in shares of Solid Power during the 2nd quarter worth approximately $69,000. SG Americas Securities LLC grew its holdings 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 worth $81,000 after purchasing an additional 31,978 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew 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 purchasing an additional 25,520 shares in the last quarter. Institutional investors and hedge funds own 33.66% of the company's stock.

Solid Power Company Profile

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.