Solid Power (NASDAQ:SLDP) Now Covered by HC Wainwright

Research analysts at HC Wainwright began coverage on shares of Solid Power (NASDAQ:SLDP) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 122.22% from the company’s current price.

A number of other equities research analysts also recently commented on SLDP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a report on Thursday, January 22nd. Wall Street Zen cut shares of Solid Power from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $7.00 price target on shares of Solid Power in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.00.

Solid Power Price Performance

Shares of NASDAQ SLDP opened at $3.15 on Monday. The firm’s 50-day moving average is $4.27 and its two-hundred day moving average is $4.79. The company has a market capitalization of $694.83 million, a PE ratio of -6.30 and a beta of 1.92. Solid Power has a 12-month low of $0.68 and a 12-month high of $8.86.

Solid Power (NASDAQ:SLDP) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of ($0.20) million during the quarter, compared to analysts’ expectations of $2.50 million. Solid Power had a negative net margin of 429.54% and a negative return on equity of 23.88%.

Institutional Trading of Solid Power

Institutional investors have recently made changes to their positions in the stock. Creative Planning purchased a new position in shares of Solid Power in the 2nd quarter worth $26,000. American Century Companies Inc. acquired a new stake in Solid Power during the second quarter worth about $27,000. Corient Private Wealth LLC acquired a new stake in Solid Power during the second quarter worth about $31,000. Brown Advisory Inc. purchased a new position in shares of Solid Power in the 2nd quarter worth about $33,000. Finally, AlphaCore Capital LLC acquired a new position in shares of Solid Power in the 3rd quarter valued at about $35,000. 33.66% of the stock is owned by hedge funds and other institutional investors.

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.