Solid Power (NASDAQ:SLDP) Stock Price Up 11.9% - Time to Buy?

Key Points

• Shares of Solid Power jumped 11.9% on Wednesday to about $3.96 (intraday high $4.05) on roughly 5.38 million shares traded, near its average daily volume.
• Analyst coverage is mixed—two Buys, one Hold and one Sell—with a consensus rating of "Hold" and an average price target of $7.00.
• The company remains unprofitable: it reported Q4 EPS of -$0.14 (beat estimates) but revenue of $0.86M missed expectations, and it shows negative margins and ROE; market cap is about $850 million.

Solid Power, Inc. (NASDAQ:SLDP - Get Free Report) rose 11.9% on Wednesday . The stock traded as high as $4.05 and last traded at $3.9630. Approximately 5,378,994 shares traded hands during trading, a decline of 1% from the average daily volume of 5,445,122 shares. The stock had previously closed at $3.54.

Analyst Upgrades and Downgrades

SLDP has been the subject of several research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Solid Power in a report on Thursday, January 22nd. HC Wainwright initiated coverage on Solid Power in a report on Monday, March 16th. They set a "buy" rating and a $7.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $7.00 price objective on shares of Solid Power in a report on Wednesday, January 14th. Finally, Zacks Research raised Solid Power to a "hold" rating in a report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Solid Power presently has a consensus rating of "Hold" and an average price target of $7.00.

Solid Power Price Performance

The stock has a fifty day moving average price of $3.26 and a 200 day moving average price of $4.63. The stock has a market capitalization of $850.33 million, a P/E ratio of -7.69 and a beta of 1.94.

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

Institutional Investors Weigh In On Solid Power

Several large investors have recently added to or reduced their stakes in SLDP. Creative Planning bought a new stake in Solid Power during the second quarter valued at $26,000. American Century Companies Inc. bought a new stake in Solid Power during the second quarter valued at $27,000. Corient Private Wealth LLC bought a new stake in Solid Power during the second quarter valued at $31,000. Brown Advisory Inc. bought a new stake in Solid Power during the second quarter valued at $33,000. Finally, AlphaCore Capital LLC bought a new stake in Solid Power during the third quarter valued at $35,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.