Solid Power, Inc. (NASDAQ:SLDP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Solid Power, Inc. (NASDAQ:SLDP) have received a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.9167.

A number of analysts have weighed in on the company. Zacks Research upgraded Solid Power to a “hold” rating in a research report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a research report on Tuesday, April 21st. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price target on shares of Solid Power in a research report on Wednesday, May 6th. Alliance Global Partners assumed coverage on Solid Power in a research report on Wednesday, June 10th. They issued a “buy” rating and a $6.75 price target on the stock. Finally, HC Wainwright assumed coverage on Solid Power in a research report on Monday, March 16th. They issued a “buy” rating and a $7.00 price target on the stock.

Insiders Place Their Bets

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

Institutional Trading of Solid Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its stake in shares of Solid Power by 3,974.6% in the third 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 during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Solid Power by 5,305.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,934,653 shares of the company’s stock worth $8,222,000 after acquiring an additional 1,898,859 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Solid Power in the fourth quarter worth about $7,810,000. Vanguard Group Inc. raised its stake in shares of Solid Power by 15.7% in the third quarter. Vanguard Group Inc. now owns 9,440,931 shares of the company’s stock worth $32,760,000 after acquiring an additional 1,278,324 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Solid Power by 25.9% in 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 and hedge funds.

Solid Power Trading Down 3.5%

Shares of NASDAQ SLDP opened at $2.74 on Wednesday. The business has a fifty day simple moving average of $3.15 and a 200 day simple moving average of $3.84. Solid Power has a one year low of $1.72 and a one year high of $8.86. The firm has a market capitalization of $616.45 million, a price-to-earnings ratio of -5.71 and a beta of 1.87.

Solid Power (NASDAQ:SLDP) last announced its quarterly earnings results 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. Solid Power had a negative return on equity of 21.57% and a negative net margin of 485.47%.The firm had revenue of $3.07 million for the quarter, compared to analysts’ expectations of $3.33 million. On average, research analysts anticipate that Solid Power will post -0.44 earnings per share for the current fiscal year.

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.