Solid Power, Inc. (NASDAQ:SLDP) Given Consensus Recommendation of “Hold” by Brokerages

Solid Power, Inc. (NASDAQ:SLDP) has earned an average rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat reports. One equities 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 objective among brokerages that have covered the stock in the last year is $6.9167.

Several research firms have recently issued reports on SLDP. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Power in a research report on Friday, July 17th. Alliance Global Partners started coverage on shares of Solid Power in a research report on Wednesday, June 10th. They set a “buy” rating and a $6.75 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Solid Power in a research report on Wednesday, May 6th.

Insider Activity at Solid Power

In other Solid Power news, Director Lesa B. Roe sold 39,207 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $2.66, for a total transaction of $104,290.62. Following the transaction, the director owned 243,975 shares in the company, valued at $648,973.50. The trade was a 13.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 corporate insiders.

Institutional Investors Weigh In On Solid Power

Several hedge funds have recently modified their holdings of SLDP. Vanguard Group Inc. raised its holdings in shares of Solid Power by 15.7% during the 3rd 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 period. Bank of America Corp DE boosted 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 during the period. Geode Capital Management LLC grew its position in Solid Power by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 4,111,916 shares of the company’s stock valued at $17,479,000 after acquiring an additional 268,539 shares in the last quarter. State Street Corp grew its position in Solid Power by 25.9% in the fourth quarter. State Street Corp now owns 4,077,239 shares of the company’s stock valued at $17,328,000 after acquiring an additional 839,471 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Solid Power by 87.0% during the first 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 period. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

Solid Power Stock Performance

SLDP opened at $2.00 on Thursday. Solid Power has a 1 year low of $1.98 and a 1 year high of $8.86. The firm has a 50 day moving average price of $2.69 and a 200 day moving average price of $3.32. The company has a market cap of $449.96 million, a PE ratio of -4.17 and a beta of 1.90.

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 net margin of 485.47% and a negative return on equity of 21.57%. The firm had revenue of $3.07 million for the quarter, compared to analysts’ expectations of $3.33 million. On average, sell-side analysts predict that Solid Power will post -0.44 earnings per share for the current 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.