Solid Power (NASDAQ:SLDP) Shares Gap Up – Here’s What Happened

Solid Power, Inc. (NASDAQ:SLDP) shares gapped up prior to trading on Monday . The stock had previously closed at $6.86, but opened at $7.48. Solid Power shares last traded at $7.6850, with a volume of 7,120,182 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SLDP shares. Needham & Company LLC upped their target price on shares of Solid Power from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.00.

Solid Power Stock Performance

The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -14.12 and a beta of 1.85. The company has a 50-day simple moving average of $5.07 and a two-hundred day simple moving average of $3.45.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. The company had revenue of $4.56 million during the quarter, compared to the consensus estimate of $3.50 million. Solid Power had a negative return on equity of 24.88% and a negative net margin of 429.55%.

Institutional Investors Weigh In On Solid Power

Hedge funds have recently bought and sold shares of the company. Creative Planning acquired a new stake in shares of Solid Power in the second quarter valued at approximately $26,000. American Century Companies Inc. bought a new stake in Solid Power in the 2nd quarter valued at $27,000. Corient Private Wealth LLC acquired a new stake in Solid Power during the 2nd quarter valued at $31,000. Brown Advisory Inc. bought a new position in Solid Power during the second quarter worth $33,000. Finally, Fisher Asset Management LLC acquired a new position in shares of Solid Power in the second quarter valued at $35,000. 33.66% of the stock is currently owned by institutional investors and hedge funds.

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.