Solid Power, Inc. (NASDAQ:SLDP) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Solid Power, based on one sell, one hold and three buy ratings. The average 12-month price target is $6.92, compared with the stock’s recent price of $2.55.
• Solid Power’s shares recently traded up 6.7%, but remain well below their 52-week high of $8.86 and have a market capitalization of approximately $582 million.
• The company modestly beat quarterly EPS expectations, reporting a loss of $0.11 per share versus the $0.12 consensus estimate, though revenue of negative $0.27 million was far below the $1.55 million forecast. Institutional investors and hedge funds own 33.66% of the stock.

Shares of Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) have earned an average rating of "Hold" from the five analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.9167.

A number of equities analysts have recently issued reports on SLDP shares. Alliance Global Partners initiated coverage on shares of Solid Power in a report on Wednesday, June 10th. They issued a "buy" rating and a $6.75 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Solid Power in a research report on Friday, July 17th.

Hedge Funds Weigh In On Solid Power

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of Solid Power by 87.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,618,519 shares of the company's stock worth $10,852,000 after purchasing an additional 1,683,866 shares in the last quarter. UBS Group AG grew its stake in Solid Power by 157.5% during the 4th quarter. UBS Group AG now owns 1,011,495 shares of the company's stock valued at $4,299,000 after purchasing an additional 618,757 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Solid Power in the 2nd quarter valued at approximately $535,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Solid Power during the second quarter worth approximately $393,000. Finally, Walleye Capital LLC raised its holdings in Solid Power by 118.7% in the first quarter. Walleye Capital LLC now owns 67,190 shares of the company's stock valued at $202,000 after acquiring an additional 36,470 shares in the last quarter. 33.66% of the stock is currently owned by institutional investors and hedge funds.

Solid Power Trading Up 6.7%

Solid Power stock opened at $2.55 on Friday. The stock has a market capitalization of $581.86 million, a price-to-earnings ratio of -5.67 and a beta of 1.94. Solid Power has a twelve month low of $1.98 and a twelve month high of $8.86. The stock has a 50 day moving average of $2.33 and a two-hundred day moving average of $2.79.

Solid Power (NASDAQ:SLDP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. The business had revenue of ($0.27) million for the quarter, compared to analyst estimates of $1.55 million. Solid Power had a negative net margin of 485.47% and a negative return on equity of 19.69%. Equities analysts predict that Solid Power will post -0.39 earnings per share for the current year.

Solid Power Company Profile

Solid Power, Inc is a developer of solid-state rechargeable battery technology headquartered in Louisville, Colorado. The company focuses on batteries that use solid, sulfide-based electrolytes rather than the liquid electrolytes found in conventional lithium-ion batteries. Solid-state designs are intended to improve safety, energy density and performance while supporting more efficient battery-pack configurations.

Solid Power develops and produces solid electrolyte materials, battery cells and related manufacturing processes.

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