Solid Power (NASDAQ:SLDP) Announces Earnings Results

Solid Power (NASDAQ:SLDP) posted its earnings results on Tuesday. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06), Zacks reports. Solid Power had a negative net margin of 345.37% and a negative return on equity of 13.32%. The company had revenue of $5.08 million during the quarter, compared to analyst estimates of $13.11 million. During the same period in the previous year, the company earned ($0.07) EPS.

Solid Power Stock Performance

Shares of SLDP traded up $0.09 during mid-day trading on Thursday, hitting $1.37. 1,583,723 shares of the company’s stock were exchanged, compared to its average volume of 2,745,309. The company has a market cap of $242.55 million, a price-to-earnings ratio of -3.37 and a beta of 1.77. Solid Power has a fifty-two week low of $1.10 and a fifty-two week high of $2.88. The stock’s 50-day moving average is $1.78 and its 200-day moving average is $1.71.

Insider Transactions at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $1.66, for a total transaction of $311,250.00. Following the sale, the chief technology officer now directly owns 687,473 shares in the company, valued at $1,141,205.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 562,500 shares of company stock valued at $937,500. 7.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLDP. Chardan Capital reaffirmed a “buy” rating and issued a $5.00 target price on shares of Solid Power in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “buy” rating and set a $3.00 price target on shares of Solid Power in a research report on Wednesday.

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.