Needham slashes price target on Solid Power Inc. [SLDP] – find out why.


Solid Power Inc. [NASDAQ: SLDP] stock went on a downward path that fall over -4.64% on Thursday, amounting to a one-week price decrease of less than -8.54%. The company report on January 6, 2022 that Solid Power to Present at the 24th Annual Needham Virtual Growth Conference on Friday, January 14, 2022.

Solid Power, Inc. (“Solid Power”) (Nasdaq: SLDP), an industry-leading developer of all-solid-state battery cells for electric vehicles, today announced its participation at the upcoming 24th Annual Needham Virtual Growth Conference on January 14, 2022. Doug Campbell, Chief Executive Officer, will be presenting and Mr. Campbell and Kevin Paprzycki, Chief Financial Officer, will participate in small group meetings as part of the conference.

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Solid Power’s presentation at the Needham conference is scheduled for 2:45 PM – 3:25 PM ET on Friday, January 14, 2022. A live webcast link of the presentation can be accessed via the link provided below or by visiting the Events & Presentations section of Solid Power’s Investor Relations website. A replay of the presentation will be available for 90 days following the event.

The market cap for the stock reached $1.27 billion, with 167.56 million shares outstanding. Compared to the average trading volume of 2.75M shares, SLDP stock reached a trading volume of 2404709 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Solid Power Inc. [SLDP]:

Needham have made an estimate for Solid Power Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 10, 2022.

The Average True Range (ATR) for Solid Power Inc. is set at 1.00, with the Price to Sales ratio for SLDP stock in the period of the last 12 months amounting to 564.70.

SLDP Stock Performance Analysis:

Solid Power Inc. [SLDP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.54. With this latest performance, SLDP shares dropped by -24.15% in over the last four-week period, additionally sinking by -23.77% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SLDP stock in for the last two-week period is set at 37.68, with the RSI for the last a single of trading hit 36.37, and the three-weeks RSI is set at 39.22 for Solid Power Inc. [SLDP]. The present Moving Average for the last 50 days of trading for this stock 10.79, while it was recorded at 7.86 for the last single week of trading.

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Solid Power Inc. [SLDP] Insider Position Details

There are presently around $197 million, or 19.92% of SLDP stock, in the hands of institutional investors. The top three institutional holders of SLDP stocks are: D. E. SHAW & CO., INC. with ownership of 3,372,500, which is approximately 139.171% of the company’s market cap and around 34.96% of the total institutional ownership; MAGNETAR FINANCIAL LLC, holding 3,025,982 shares of the stock with an approximate value of $23.0 million in SLDP stocks shares; and FARALLON CAPITAL MANAGEMENT LLC, currently with $15.2 million in SLDP stock with ownership of nearly 0% of the company’s market capitalization.

36 institutional holders increased their position in Solid Power Inc. [NASDAQ:SLDP] by around 9,788,561 shares. Additionally, 30 investors decreased positions by around 5,790,234 shares, while 14 investors held positions by with 10,350,913 shares. The mentioned changes placed institutional holdings at 25,929,708 shares, according to the latest SEC report filing. SLDP stock had 27 new institutional investments in for a total of 6,267,116 shares, while 15 institutional investors sold positions of 2,766,106 shares during the same period.