Solid Power (NASDAQ:SLDP) Hits New 12-Month Low – Should You Sell?

Shares of Solid Power, Inc. (NASDAQ:SLDP) reached a new 52-week low on Thursday . The company traded as low as $2.14 and last traded at $2.15, with a volume of 4448502 shares. The stock had previously closed at $2.33.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SLDP shares. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Power in a report on Friday, July 17th. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price target on shares of Solid Power in a research note on Wednesday, May 6th. Finally, Alliance Global Partners began coverage on shares of Solid Power in a research report on Wednesday, June 10th. They issued a “buy” rating and a $6.75 price target for the company. Three research 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.com, the company presently has an average rating of “Hold” and an average price target of $6.92.

Solid Power Stock Performance

The business has a 50 day moving average of $2.76 and a 200-day moving average of $3.43.

Solid Power (NASDAQ:SLDP) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.06. The company had revenue of $3.07 million during the quarter, compared to analysts’ expectations 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, analysts expect that Solid Power, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Activity at Solid Power

In related news, Director Lesa B. Roe sold 39,207 shares of the company’s stock in a transaction 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 in the company, valued at $648,973.50. This represents a 13.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is owned by insiders.

Institutional Trading of Solid Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Optiver Holding B.V. acquired a new stake in Solid Power during the 1st quarter worth approximately $50,000. Amundi acquired a new position in shares of Solid Power in the first quarter valued at approximately $32,000. Walleye Capital LLC increased its stake in Solid Power by 118.7% in the 1st quarter. Walleye Capital LLC now owns 67,190 shares of the company’s stock valued at $202,000 after buying an additional 36,470 shares during the period. First Trust Advisors LP raised its stake in shares of Solid Power by 14.4% during the 1st quarter. First Trust Advisors LP now owns 42,448 shares of the company’s stock worth $127,000 after buying an additional 5,353 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Solid Power by 87.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,618,519 shares of the company’s stock valued at $10,852,000 after purchasing an additional 1,683,866 shares in the last quarter. 33.66% of the stock is owned by hedge funds and other 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.