Solid Power (NASDAQ:SLDP) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Solid Power (NASDAQ:SLDP) in a report released on Wednesday morning,Benzinga reports. They currently have a $2.00 price objective on the stock.

Solid Power Stock Performance

NASDAQ:SLDP opened at $1.65 on Wednesday. Solid Power has a twelve month low of $1.00 and a twelve month high of $2.70. The firm has a 50-day moving average price of $1.37 and a two-hundred day moving average price of $1.44.

Insider Buying and Selling

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the stock in a transaction on 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 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 the SEC website. Insiders sold 562,500 shares of company stock worth $793,125 in the last ninety days. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 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. SG Americas Securities LLC grew its stake in Solid Power by 115.0% in the 3rd quarter. SG Americas Securities LLC now owns 59,797 shares of the company’s stock worth $81,000 after acquiring an additional 31,978 shares during the period. American Century Companies Inc. purchased a new stake in Solid Power in the 2nd quarter worth approximately $60,000. Finally, Silver Lake Advisory LLC acquired a new position in Solid Power in the 2nd quarter valued at $69,000. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

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.