Solid Power (NASDAQ:SLDP) Shares Gap Down - Time to Sell?

Key Points

• Shares gapped down on Monday—opening at $3.56 after a $3.67 close—with the last trade near $3.62 on ~1.89M shares and the stock trading down about 4.5% (50-day SMA $3.26 vs. 200-day SMA $4.58).
• Analysts are mixed: two Buys, one Hold and one Sell give a consensus rating of "Hold" and a consensus price target of $7.00.
• Recent quarter showed a slight EPS beat (‑$0.14 vs. est. ‑$0.16) but missed revenue estimates ($0.86M vs. $2.50M), with a very negative net margin (‑429.54%) and analyst forecasts of about ‑$0.52 EPS for the fiscal year.

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $3.67, but opened at $3.56. Solid Power shares last traded at $3.6230, with a volume of 1,893,691 shares traded.

Analyst Ratings Changes

Several brokerages have issued reports on SLDP. Needham & Company LLC restated a "buy" rating and issued a $7.00 price target on shares of Solid Power in a research report on Wednesday, January 14th. HC Wainwright started coverage on shares of Solid Power in a research note on Monday, March 16th. They issued a "buy" rating and a $7.00 price objective on the stock. Zacks Research upgraded Solid Power to a "hold" rating in a report on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Solid Power in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Solid Power has a consensus rating of "Hold" and a consensus price target of $7.00.

Solid Power Trading Down 4.5%

The business's 50-day simple moving average is $3.26 and its two-hundred day simple moving average is $4.58. The firm has a market cap of $773.13 million, a price-to-earnings ratio of -7.01 and a beta of 1.94.

Solid Power (NASDAQ:SLDP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.02. Solid Power had a negative net margin of 429.54% and a negative return on equity of 23.88%. The company had revenue of $0.86 million for the quarter, compared to analyst estimates of $2.50 million. On average, analysts forecast that Solid Power, Inc. will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of Solid Power

A number of large investors have recently bought and sold shares of SLDP. Creative Planning bought a new position in shares of Solid Power in the 2nd quarter worth about $26,000. American Century Companies Inc. bought a new stake in shares of Solid Power during the 2nd quarter valued at about $27,000. Corient Private Wealth LLC acquired a new stake in Solid Power during the second quarter worth approximately $31,000. Elevation Point Wealth Partners LLC bought a new stake in Solid Power in the first quarter worth approximately $32,000. Finally, Brown Advisory Inc. bought a new stake in Solid Power in the second quarter worth approximately $33,000. 33.66% of the stock is currently owned by institutional investors and hedge funds.

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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