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

Shares of Solid Power, Inc. (NASDAQ:SLDP) have received an average rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat reports. One investment 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 1-year price target among brokers that have covered the stock in the last year is $6.9167.

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

Solid Power Price Performance

NASDAQ SLDP opened at $2.52 on Friday. Solid Power has a 1-year low of $2.22 and a 1-year high of $8.86. The company has a market capitalization of $566.95 million, a P/E ratio of -5.25 and a beta of 1.90. The business has a 50 day moving average price of $3.01 and a 200 day moving average price of $3.63.

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

Insider Activity

In related news, Director Lesa B. Roe sold 39,207 shares of Solid Power stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $2.66, for a total transaction of $104,290.62. Following the completion of the transaction, the director directly owned 243,975 shares in the company, valued at $648,973.50. The trade was a 13.85% decrease in their position. The sale was disclosed in a document filed 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 corporate insiders.

Hedge Funds Weigh In On Solid Power

Several hedge funds have recently bought and sold shares of SLDP. Optiver Holding B.V. purchased a new stake in shares of Solid Power in the first quarter valued at $50,000. Amundi purchased a new stake in Solid Power during the 1st quarter worth about $32,000. Walleye Capital LLC increased its position in Solid Power by 118.7% during the 1st quarter. Walleye Capital LLC now owns 67,190 shares of the company’s stock worth $202,000 after purchasing an additional 36,470 shares in the last quarter. First Trust Advisors LP raised its stake in Solid Power by 14.4% in the 1st quarter. First Trust Advisors LP now owns 42,448 shares of the company’s stock valued at $127,000 after purchasing an additional 5,353 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in 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 during the last quarter. Hedge funds and other 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.