Solid Power (NASDAQ:SLDP) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

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

Solid Power Stock Down 17.8 %

SLDP stock traded down $0.28 during midday trading on Wednesday, reaching $1.30. 5,538,054 shares of the company’s stock traded hands, compared to its average volume of 2,747,115. Solid Power has a 52 week low of $1.10 and a 52 week high of $2.88. The company has a market cap of $230.73 million, a price-to-earnings ratio of -3.66 and a beta of 1.77. The firm’s fifty day moving average price is $1.79 and its 200-day moving average price is $1.71.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Solid Power

In related news, CTO Joshua Buettner-Garrett sold 187,500 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $1.66, for a total value of $311,250.00. Following the sale, the chief technology officer now owns 687,473 shares in the company, valued at approximately $1,141,205.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 562,500 shares of company stock valued at $937,500. Corporate insiders own 7.20% of the company’s stock.

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.