Solid Power, Inc. (NASDAQ:SLDP) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Solid Power, with three buys, one hold and one sell among five analysts. The average 12-month price target is $6.92.
• Solid Power shares opened at $2.37, near their 52-week low of $1.98 and below both their 50-day average of $2.40 and 200-day average of $2.97.
• Institutional investors own 33.66% of the company, while recent quarterly results showed an adjusted loss of $0.11 per share—slightly better than estimates—but revenue of negative $0.27 million versus expectations of $1.55 million.

Shares of Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) have received an average rating of "Hold" from the five analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $6.9167.

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

Institutional Trading of Solid Power

A number of hedge funds and other institutional investors have recently modified their holdings of SLDP. Dimensional Fund Advisors LP boosted its stake in Solid Power by 87.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,618,519 shares of the company's stock valued at $10,852,000 after acquiring an additional 1,683,866 shares during the last quarter. UBS Group AG raised its stake in shares of Solid Power by 157.5% in 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. Walleye Capital LLC lifted its position in shares of Solid Power by 118.7% during the first quarter. Walleye Capital LLC now owns 67,190 shares of the company's stock worth $202,000 after purchasing an additional 36,470 shares during the last quarter. Arizona State Retirement System acquired a new position in Solid Power in the fourth quarter worth about $193,000. Finally, Pictet Asset Management Holding SA acquired a new position in Solid Power in the fourth quarter worth about $66,000. 33.66% of the stock is owned by hedge funds and other institutional investors.

Solid Power Price Performance

Shares of NASDAQ SLDP opened at $2.37 on Monday. The business's fifty day moving average price is $2.40 and its 200-day moving average price is $2.97. The stock has a market capitalization of $540.79 million, a PE ratio of -5.27 and a beta of 1.92. Solid Power has a one year low of $1.98 and a one year high of $8.86.

Solid Power (NASDAQ:SLDP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. The business had revenue of ($0.27) million during 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%. As a group, equities analysts expect that Solid Power will post -0.39 EPS for the current fiscal year.

Solid Power Company Profile

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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