Tower Research Capital LLC TRC Raises Stock Position in Solid Power, Inc. (NASDAQ:SLDP)

Tower Research Capital LLC TRC lifted its stake in shares of Solid Power, Inc. (NASDAQ:SLDP) by 644.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 34,055 shares of the company’s stock after acquiring an additional 29,482 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Solid Power were worth $49,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Swiss National Bank increased its holdings in shares of Solid Power by 24.4% in the 3rd quarter. Swiss National Bank now owns 312,700 shares of the company’s stock valued at $632,000 after acquiring an additional 61,400 shares during the period. Chase Investment Counsel Corp acquired a new position in shares of Solid Power in the 3rd quarter valued at $84,000. Kestra Advisory Services LLC increased its holdings in shares of Solid Power by 335.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 110,787 shares of the company’s stock valued at $224,000 after acquiring an additional 85,369 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Solid Power by 46.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,031 shares of the company’s stock valued at $57,000 after acquiring an additional 8,942 shares during the period. Finally, Spire Wealth Management increased its holdings in shares of Solid Power by 141.2% in the 3rd quarter. Spire Wealth Management now owns 20,500 shares of the company’s stock valued at $41,000 after acquiring an additional 12,000 shares during the period. Hedge funds and other institutional investors own 33.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SLDP. Chardan Capital reaffirmed a “buy” rating and issued a $5.00 target price on shares of Solid Power in a report on Wednesday, February 28th. DA Davidson reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Solid Power in a report on Tuesday, March 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 target price on shares of Solid Power in a report on Wednesday, February 28th.

Insiders Place Their Bets

In other Solid Power news, CTO Joshua Buettner-Garrett sold 187,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $1.58, for a total transaction of $296,250.00. Following the sale, the chief technology officer now directly owns 356,433 shares in the company, valued at approximately $563,164.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 562,500 shares of company stock worth $900,000. Corporate insiders own 7.20% of the company’s stock.

Solid Power Stock Performance

SLDP traded up $0.01 during trading on Tuesday, hitting $1.69. The stock had a trading volume of 1,143,212 shares, compared to its average volume of 3,370,862. The firm has a market capitalization of $306.04 million, a P/E ratio of -4.57 and a beta of 1.76. The company’s 50-day moving average price is $1.65 and its 200 day moving average price is $1.52. Solid Power, Inc. has a twelve month low of $1.10 and a twelve month high of $3.20.

Solid Power (NASDAQ:SLDP) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $2.35 million for the quarter, compared to analysts’ expectations of $4.14 million. Solid Power had a negative net margin of 376.47% and a negative return on equity of 12.55%. As a group, equities analysts expect that Solid Power, Inc. will post -0.42 earnings per share for the current fiscal year.

Solid Power 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.