Solid Power, Inc. (NASDAQ:SLDP) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold” for Solid Power, with one sell, one hold and three buy ratings. The average 12-month price target is $6.92, versus the stock’s recent $2.00 price.
• Solid Power’s shares have declined sharply, trading near their 1-year low of $1.98 and below both the 50-day ($2.69) and 200-day ($3.32) moving averages.
• The company exceeded quarterly EPS expectations, reporting a loss of $0.06 per share versus the forecasted $0.12 loss, although revenue of $3.07 million fell short of the $3.33 million estimate and profitability remained deeply negative.

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) has received an average rating of "Hold" from the five research firms that are covering the company, Marketbeat reports. One equities research 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 target among analysts that have issued ratings on the stock in the last year is $6.9167.

SLDP has been the topic of a number of recent analyst reports. Alliance Global Partners started coverage on Solid Power in a research note on Wednesday, June 10th. They set a "buy" rating and a $6.75 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Solid Power in a research note on Friday, July 17th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $7.00 target price on shares of Solid Power in a research report on Wednesday, May 6th.

Solid Power Price Performance

NASDAQ:SLDP opened at $2.00 on Thursday. The firm has a market cap of $449.96 million, a PE ratio of -4.17 and a beta of 1.90. The firm has a 50 day simple moving average of $2.69 and a 200-day simple moving average of $3.32. Solid Power has a 1-year low of $1.98 and a 1-year high of $8.86.

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

Insider Activity at Solid Power

In other news, Director Lesa B. Roe sold 39,207 shares of the stock in a transaction dated Wednesday, May 20th. The shares were 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 in the company, valued at $648,973.50. This represents a 13.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Solid Power

A number of large investors have recently bought and sold shares of SLDP. Creative Planning purchased a new stake in shares of Solid Power during the 2nd quarter valued at $26,000. American Century Companies Inc. purchased a new position in shares of Solid Power in the 2nd quarter worth $27,000. Corient Private Wealth LLC purchased a new position in shares of Solid Power in the 2nd quarter worth $31,000. Elevation Point Wealth Partners LLC acquired a new position in Solid Power in the first quarter valued at $32,000. Finally, Amundi acquired a new position in Solid Power in the first quarter valued at $32,000. Hedge funds and other institutional investors own 33.66% of the company's stock.

About Solid Power

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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