Solid Power, Inc. (NASDAQ:SLDP) Given Average Rating of “Hold” by Analysts

by · The Cerbat Gem

Solid Power, Inc. (NASDAQ:SLDP – Get Free Report) has earned a consensus rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.9167.

SLDP has been the topic of a number of research analyst reports. HC Wainwright initiated coverage on Solid Power in a report on Monday, March 16th. They set a “buy” rating and a $7.00 price target on the stock. Alliance Global Partners initiated coverage on Solid Power in a report on Wednesday. They set a “buy” rating and a $6.75 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Power in a report on Tuesday, April 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Solid Power in a report on Wednesday, May 6th. Finally, Zacks Research raised Solid Power to a “hold” rating in a report on Tuesday, March 17th.

Get Our Latest Research Report on SLDP

Insider Activity

In other news, Director Lesa B. Roe sold 39,207 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $2.66, for a total transaction of $104,290.62. Following the transaction, the director directly owned 243,975 shares of the company’s stock, valued at $648,973.50. This represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Solid Power by 15.7% in the third quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company’s stock valued at $32,760,000 after acquiring an additional 1,278,324 shares during the period. Bank of America Corp DE lifted its holdings in Solid Power by 3,974.6% in the third quarter. Bank of America Corp DE now owns 6,495,146 shares of the company’s stock valued at $22,538,000 after acquiring an additional 6,335,739 shares during the period. Riverstone Holdings LLC lifted its holdings in Solid Power by 3.7% in the third quarter. Riverstone Holdings LLC now owns 4,714,816 shares of the company’s stock valued at $16,360,000 after acquiring an additional 169,709 shares during the period. Geode Capital Management LLC lifted its holdings in Solid Power by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 4,111,916 shares of the company’s stock valued at $17,479,000 after acquiring an additional 268,539 shares during the period. Finally, State Street Corp lifted its holdings in Solid Power by 25.9% in the fourth quarter. State Street Corp now owns 4,077,239 shares of the company’s stock valued at $17,328,000 after acquiring an additional 839,471 shares during the period. Institutional investors own 33.66% of the company’s stock.

Solid Power Price Performance

Shares of NASDAQ:SLDP opened at $2.80 on Wednesday. The company has a market cap of $629.94 million, a P/E ratio of -5.83 and a beta of 1.87. Solid Power has a 1 year low of $1.46 and a 1 year high of $8.86. The stock’s fifty day moving average price is $3.16 and its 200-day moving average price is $3.92.

Solid Power (NASDAQ:SLDP – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.06. The firm had revenue of $3.07 million for the quarter, compared to the consensus estimate of $3.33 million. Solid Power had a negative return on equity of 21.57% and a negative net margin of 485.47%. On average, sell-side analysts anticipate that Solid Power will post -0.44 earnings per share for the current year.

Solid Power Company Profile

(Get Free Report)

Solid Power, Inc (NASDAQ: SLDP) is a Colorado-based company specializing in the development and manufacturing of all-solid-state rechargeable battery cells for the electric vehicle (EV) and aerospace industries. Founded in 2012 as a spin-out from the University of Colorado Boulder, Solid Power has focused on advancing solid electrolytes and high-energy battery architectures to deliver improved safety, higher energy density and longer cycle life compared with traditional lithium-ion batteries.

The company’s core offerings include multilayer solid-state battery cells that utilize sulfide-based solid electrolytes and high-capacity cathode materials.

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