Solid Power, Inc. (NASDAQ:SLDP) Stock Has Average Target Price of $6.92

Key Points

• Analysts have a consensus “Hold” rating on Solid Power, with three buys, one hold and one sell; the average 12-month price target is $6.92 versus the stock’s $2.23 trading price.
• Solid Power shares have declined 6.3% and trade near their 12-month low, with a market capitalization of approximately $509 million and a negative P/E ratio.
• The company narrowly beat quarterly EPS estimates, reporting a loss of $0.11 per share, but revenue was negative $0.27 million versus expectations of $1.55 million; analysts forecast a full-year loss of $0.39 per share.

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) has received a consensus recommendation of "Hold" from the five research firms that are currently covering the firm, Marketbeat.com reports. One 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 objective among brokerages that have issued ratings on the stock in the last year is $6.92.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Solid Power in a research report on Friday, July 17th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new position in Solid Power in the 2nd quarter valued at $27,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Solid Power in the 1st quarter worth $32,000. Amundi acquired a new stake in shares of Solid Power in the 1st quarter worth $32,000. Abel Hall LLC acquired a new stake in shares of Solid Power in the 1st quarter worth $36,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Solid Power in the 1st quarter worth $50,000. Institutional investors and hedge funds own 33.66% of the company's stock.

Solid Power Trading Down 6.3%

NASDAQ SLDP opened at $2.23 on Tuesday. The company has a fifty day simple moving average of $2.38 and a two-hundred day simple moving average of $2.69. Solid Power has a 12-month low of $1.98 and a 12-month high of $8.86. The stock has a market cap of $508.84 million, a P/E ratio of -4.96 and a beta of 1.99.

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

About Solid Power

Solid Power, Inc is a Colorado-based battery technology company developing rechargeable, all-solid-state batteries for electric vehicles and other applications. Its technology is designed to replace the liquid or gel electrolytes used in conventional lithium-ion batteries with a sulfide-based solid electrolyte, with the goal of improving energy density, safety and operating performance.

The company develops and tests solid-state battery cells, including automotive-scale designs, and produces sulfide solid electrolyte materials.

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