Needham & Company LLC Lowers Solid Power (NASDAQ:SLDP) Price Target to $2.00

Solid Power (NASDAQ:SLDP) had its target price cut by Needham & Company LLC from $3.00 to $2.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 72.41% from the company’s previous close.

Separately, Wolfe Research began coverage on shares of Solid Power in a report on Thursday, September 5th. They set an “underperform” rating and a $1.00 price target for the company.

Solid Power Stock Down 1.7 %

Shares of NASDAQ:SLDP opened at $1.16 on Monday. The company has a market capitalization of $207.59 million, a price-to-earnings ratio of -2.64 and a beta of 1.74. The company has a 50 day moving average of $1.28 and a two-hundred day moving average of $1.56. Solid Power has a 52-week low of $1.06 and a 52-week high of $2.35.

Insiders Place Their Bets

In other Solid Power news, CTO Joshua Buettner-Garrett sold 187,500 shares of Solid Power stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $1.42, for a total transaction of $266,250.00. Following the transaction, the chief technology officer now owns 683,057 shares of the company’s stock, valued at $969,940.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.42, for a total value of $266,250.00. Following the completion of the sale, the chief technology officer now directly owns 683,057 shares in the company, valued at approximately $969,940.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven H. Goldberg sold 59,197 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $1.45, for a total value of $85,835.65. Following the completion of the sale, the director now owns 82,365 shares of the company’s stock, valued at approximately $119,429.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 621,697 shares of company stock worth $815,211. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in shares of Solid Power by 79.6% during the second quarter. SG Americas Securities LLC now owns 27,819 shares of the company’s stock worth $46,000 after buying an additional 12,328 shares during the last quarter. Norden Group LLC acquired a new position in shares of Solid Power in the first quarter valued at $29,000. Paloma Partners Management Co acquired a new position in shares of Solid Power in the first quarter valued at $48,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Solid Power by 71.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 61,044 shares of the company’s stock valued at $101,000 after purchasing an additional 25,520 shares in the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Solid Power in the second quarter valued at $60,000. 33.66% of the stock is currently owned by institutional investors and hedge funds.

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.