Solid Power, Inc. (NASDAQ:SLDP) Receives $6.92 Average PT from Analysts

Solid Power, Inc. (NASDAQ:SLDP) has received an average recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $6.9167.

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

Solid Power Stock Down 7.0%

Shares of SLDP stock opened at $2.14 on Thursday. The firm has a market capitalization of $481.46 million, a P/E ratio of -4.76 and a beta of 1.92. Solid Power has a twelve month low of $1.98 and a twelve month high of $8.86. The stock’s fifty day simple moving average is $2.59 and its 200 day simple moving average is $3.20.

Solid Power (NASDAQ:SLDP) last announced its earnings results on Tuesday, August 4th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of ($0.27) million during the quarter, compared to the consensus estimate of $1.55 million. Solid Power had a negative net margin of 485.47% and a negative return on equity of 20.37%. As a group, equities research analysts expect that Solid Power will post -0.44 EPS for the current fiscal year.

Insider Transactions at Solid Power

In other Solid Power news, Director Lesa B. Roe sold 39,207 shares of the 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 transaction, the director directly owned 243,975 shares in the company, valued at approximately $648,973.50. This represents a 13.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Solid Power

Several hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP grew its position in Solid Power by 4.4% in the 4th quarter. Engineers Gate Manager LP now owns 100,896 shares of the company’s stock valued at $429,000 after purchasing an additional 4,220 shares during the period. Allworth Financial LP raised its holdings in Solid Power by 82.6% during the fourth quarter. Allworth Financial LP now owns 11,246 shares of the company’s stock worth $48,000 after buying an additional 5,087 shares during the last quarter. First Trust Advisors LP raised its holdings in Solid Power by 14.4% during the first 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 during the last quarter. LPL Financial LLC lifted its stake in shares of Solid Power by 22.0% in the fourth quarter. LPL Financial LLC now owns 30,289 shares of the company’s stock valued at $129,000 after buying an additional 5,461 shares in the last quarter. Finally, Spire Wealth Management lifted its stake in shares of Solid Power by 141.8% in the fourth quarter. Spire Wealth Management now owns 10,879 shares of the company’s stock valued at $46,000 after buying an additional 6,379 shares in the last quarter. Institutional investors own 33.66% of the company’s stock.

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.