Solid Power, Inc. (NASDAQ:SLDP) Receives Average Rating of “Hold” from Brokerages

Shares of Solid Power, Inc. (NASDAQ:SLDP) have been given an average recommendation of “Hold” by the five research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.9167.

Several equities research analysts recently commented on SLDP shares. Needham & Company LLC reissued a “buy” rating and set a $7.00 price objective on shares of Solid Power in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Power in a report on Tuesday, April 21st. Zacks Research upgraded shares of Solid Power to a “hold” rating in a research note on Tuesday, March 17th. Alliance Global Partners started coverage on shares of Solid Power in a research note on Wednesday, June 10th. They issued a “buy” rating and a $6.75 target price on the stock. Finally, HC Wainwright started coverage on shares of Solid Power in a report on Monday, March 16th. They issued a “buy” rating and a $7.00 price objective for the company.

Solid Power Trading Down 3.3%

Shares of SLDP stock traded down $0.08 during midday trading on Friday, reaching $2.32. 2,496,366 shares of the stock were exchanged, compared to its average volume of 4,246,799. Solid Power has a 1 year low of $2.32 and a 1 year high of $8.86. The firm has a market cap of $521.95 million, a PE ratio of -4.83 and a beta of 1.90. The company’s 50 day moving average is $2.90 and its two-hundred day moving average is $3.55.

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

Insiders Place Their Bets

In other Solid Power news, Director Lesa B. Roe sold 39,207 shares of Solid Power stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $2.66, for a total value of $104,290.62. Following the completion of the sale, the director owned 243,975 shares of the company’s stock, valued at approximately $648,973.50. The trade was a 13.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SLDP. Bank of America Corp DE increased its holdings in Solid Power by 3,974.6% in the 3rd quarter. Bank of America Corp DE now owns 6,495,146 shares of the company’s stock worth $22,538,000 after acquiring an additional 6,335,739 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Solid Power by 5,305.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,934,653 shares of the company’s stock worth $8,222,000 after purchasing an additional 1,898,859 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Solid Power in the 4th quarter worth approximately $7,810,000. Vanguard Group Inc. raised its position in shares of Solid Power by 15.7% during the third quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company’s stock valued at $32,760,000 after buying an additional 1,278,324 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Solid Power by 25.9% during the fourth quarter. State Street Corp now owns 4,077,239 shares of the company’s stock worth $17,328,000 after acquiring an additional 839,471 shares during the last quarter. 33.66% of the stock is currently owned by institutional investors.

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.