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

Solid Power (NASDAQ:SLDP) had its price target lowered by Needham & Company LLC from $3.00 to $2.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Solid Power Price Performance

SLDP opened at $1.06 on Monday. Solid Power has a 1-year low of $1.06 and a 1-year high of $2.35. The business has a 50 day moving average of $1.26 and a 200-day moving average of $1.55.

Insider Buying and Selling

In other Solid Power news, CTO Joshua Buettner-Garrett sold 187,500 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1.07, for a total transaction of $200,625.00. Following the completion of the transaction, the chief technology officer now directly owns 869,720 shares in the company, valued at $930,600.40. This represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven H. Goldberg sold 59,197 shares of the stock in a transaction 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 transaction, the director now owns 82,365 shares of the company’s stock, valued at $119,429.25. This represents a 41.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 809,197 shares of company stock valued at $1,015,836 over the last ninety days. 7.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SLDP. Charles Schwab Investment Management Inc. increased its stake in shares of Solid Power by 10.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,154,464 shares of the company’s stock valued at $1,559,000 after buying an additional 106,380 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Solid Power in the third quarter valued at $62,000. SG Americas Securities LLC increased its stake in shares of Solid Power by 115.0% in the third quarter. SG Americas Securities LLC now owns 59,797 shares of the company’s stock valued at $81,000 after buying an additional 31,978 shares in the last quarter. Aristides Capital LLC acquired a new stake in shares of Solid Power in the second quarter valued at $160,000. Finally, Silver Lake Advisory LLC acquired a new stake in shares of Solid Power in the second quarter valued at $69,000. 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.