MBL Wealth LLC Purchases Shares of 270,000 Solid Power, Inc. $SLDP

MBL Wealth LLC purchased a new stake in shares of Solid Power, Inc. (NASDAQ:SLDP) in the second quarter, Holdings Channel.com reports. The firm purchased 270,000 shares of the company’s stock, valued at approximately $591,000.

Several other hedge funds have also recently modified their holdings of SLDP. Bank of America Corp DE lifted its position in shares of Solid Power by 14.8% during the 4th quarter. Bank of America Corp DE now owns 241,764 shares of the company’s stock worth $457,000 after buying an additional 31,203 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Solid Power by 88.6% during the 4th quarter. Squarepoint Ops LLC now owns 126,725 shares of the company’s stock worth $240,000 after buying an additional 59,541 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Solid Power by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 395,414 shares of the company’s stock worth $415,000 after buying an additional 17,225 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Solid Power by 318.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 44,392 shares of the company’s stock worth $47,000 after buying an additional 33,776 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Solid Power by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,214,995 shares of the company’s stock worth $1,276,000 after buying an additional 51,434 shares in the last quarter. Institutional investors own 33.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Power in a research report on Saturday, September 27th. Needham & Company LLC lifted their target price on shares of Solid Power from $2.00 to $4.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Solid Power presently has a consensus rating of “Hold” and a consensus price target of $4.00.

Solid Power Stock Performance

Solid Power stock opened at $4.32 on Friday. The stock has a market cap of $783.13 million, a P/E ratio of -8.31 and a beta of 1.77. Solid Power, Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $5.62. The firm’s fifty day moving average price is $4.03 and its 200-day moving average price is $2.52.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The firm had revenue of $6.49 million during the quarter, compared to the consensus estimate of $5.00 million. Solid Power had a negative return on equity of 23.13% and a negative net margin of 412.62%.

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.