Solid Power (NASDAQ:SLDP) Releases Earnings Results

Solid Power (NASDAQ:SLDP) released its quarterly earnings data on Tuesday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06), Zacks reports. The firm had revenue of $5.08 million for the quarter, compared to analyst estimates of $13.11 million. Solid Power had a negative return on equity of 13.32% and a negative net margin of 345.37%. During the same quarter in the previous year, the business posted ($0.07) earnings per share.

Solid Power Trading Down 17.4 %

Shares of SLDP traded down $0.28 during mid-day trading on Wednesday, hitting $1.31. 5,720,469 shares of the company’s stock were exchanged, compared to its average volume of 2,748,323. Solid Power has a fifty-two week low of $1.10 and a fifty-two week high of $2.88. The business’s 50 day moving average is $1.79 and its two-hundred day moving average is $1.71. The firm has a market capitalization of $231.91 million, a P/E ratio of -3.66 and a beta of 1.77.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SLDP shares. Needham & Company LLC reissued a “buy” rating and set a $3.00 target price on shares of Solid Power in a research note on Wednesday. Chardan Capital reiterated a “buy” rating and set a $5.00 price target on shares of Solid Power in a research report on Wednesday, May 8th.

Insider Buying and Selling

In other news, CTO Joshua Buettner-Garrett sold 187,500 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $1.66, for a total transaction of $311,250.00. Following the sale, the chief technology officer now owns 687,473 shares of the company’s stock, valued at approximately $1,141,205.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 562,500 shares of company stock valued at $937,500 over the last quarter. Company insiders own 7.20% 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.