HC Wainwright Cuts Earnings Estimates for Solid Power

Key Points

• HC Wainwright lowered Solid Power’s FY2027 earnings forecast to a loss of $0.51 per share from $0.50 and projected a $0.50-per-share loss in FY2028. The FY2027 consensus forecast is a $0.39-per-share loss.
• Solid Power’s latest quarter showed a loss of $0.11 per share, slightly better than analysts’ $0.12 estimate, but revenue of $1.22 million fell short of the $1.38 million consensus.
• Shares opened at $2.04, down 9.3% in the article’s report. Analysts’ average rating is “Hold,” with a $6.92 average price target.

Solid Power, Inc. (NASDAQ:SLDP - Free Report) - Research analysts at HC Wainwright cut their FY2027 earnings estimates for shares of Solid Power in a note issued to investors on Wednesday, November 4th. HC Wainwright analyst A. Dayal now forecasts that the company will post earnings of ($0.51) per share for the year, down from their prior estimate of ($0.50). The consensus estimate for Solid Power's current full-year earnings is ($0.39) per share. HC Wainwright also issued estimates for Solid Power's FY2028 earnings at ($0.50) EPS.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Solid Power in a research note on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Solid Power has an average rating of "Hold" and an average target price of $6.92.

Solid Power Stock Down 9.3%

Shares of Solid Power stock opened at $2.04 on Friday. The business has a fifty day simple moving average of $2.27 and a 200 day simple moving average of $2.89. The stock has a market cap of $465.49 million, a PE ratio of -4.86 and a beta of 1.97. Solid Power has a 12 month low of $1.91 and a 12 month high of $8.31.

Solid Power (NASDAQ:SLDP - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. Solid Power had a negative return on equity of 18.35% and a negative net margin of 485.47%. The company had revenue of $1.22 million for the quarter, compared to the consensus estimate of $1.38 million.

Institutional Investors Weigh In On Solid Power

Several hedge funds have recently bought and sold shares of SLDP. Arizona State Retirement System raised its stake in Solid Power by 10.6% during the 2nd quarter. Arizona State Retirement System now owns 49,561 shares of the company's stock worth $128,000 after buying an additional 4,746 shares during the period. First Trust Advisors LP grew its stake in Solid Power by 14.4% in the first quarter. First Trust Advisors LP now owns 42,448 shares of the company's stock valued at $127,000 after acquiring an additional 5,353 shares during the period. TSG Advice Partners LLC acquired a new position in Solid Power in the third quarter valued at about $26,000. Tidal Investments LLC acquired a new position in Solid Power in the second quarter valued at about $27,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Solid Power in the first quarter worth about $32,000. 33.66% of the stock is currently owned by institutional investors and hedge funds.

About Solid Power

Solid Power, Inc is a battery technology company that develops all-solid-state rechargeable batteries and the materials used to manufacture them. Its technology is designed to replace conventional liquid or gel electrolytes with solid electrolytes, with the goal of improving battery safety, energy density and performance for electric vehicles and other applications.

The company's core products and development activities include sulfide-based solid electrolyte materials, solid-state battery cells and related manufacturing processes.

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