Solid Power (NASDAQ:SLDP) Shares Down 13.9% - Should You Sell?

Shares of Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) dropped 13.9% during trading on Thursday . The stock traded as low as $7.40 and last traded at $7.3280. Approximately 8,683,508 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 7,805,677 shares. The stock had previously closed at $8.51.Wall Street Analysts Forecast Growth5 EV Battery and Lithium Stocks Charging the FutureSLDP has been the topic of several research reports. Needham & Company LLC upped their price target on shares of Solid Power from $4.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of Solid Power in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $7.00.View Our Latest Report on Solid PowerSolid Power Price PerformanceThe company's 50-day moving average is $4.98 and its two-hundred day moving average is $3.35. The firm has a market cap of $1.24 billion, a P/E ratio of -12.99 and a beta of 1.85. Solid Power (NASDAQ:SLDP - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. The business had revenue of $4.56 million during the quarter, compared to analysts' expectations of $3.50 million. Solid Power had a negative net margin of 429.55% and a negative return on equity of 24.70%. Institutional Inflows and OutflowsSeveral institutional investors have recently bought and sold shares of the business. Yaupon Capital Management LP raised its stake in Solid Power by 709.1% during the first quarter. Yaupon Capital Management LP now owns 3,560,365 shares of the company's stock worth $3,738,000 after acquiring an additional 3,120,316 shares in the last quarter. Pure Financial Advisors LLC acquired a new position in Solid Power during the second quarter worth about $4,668,000. Charles Schwab Investment Management Inc. raised its stake in Solid Power by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,214,995 shares of the company's stock worth $1,276,000 after acquiring an additional 51,434 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Solid Power by 12.7% during the first quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company's stock worth $939,000 after acquiring an additional 100,939 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Solid Power during the first quarter worth about $590,000. Institutional investors and hedge funds own 33.66% of the company's stock. About Solid Power (Get Free Report)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.Featured StoriesFive stocks we like better than Solid PowerRetail Stocks Investing, ExplainedTempus AI: Volatility Equates to Opportunity in AI LeaderWhat Does a Gap Up Mean in Stocks? How to Play the GapFollow the Money: 3 Stocks With High Institutional OwnershipLow PE Growth Stocks: Unlocking Investment OpportunitiesCan Gold Mining Stocks Shine as the Metals Rally Falters?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Solid Power Right Now?Before you consider Solid Power, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Solid Power wasn't on the list.While Solid Power currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here