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

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

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

Insider Transactions 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 transaction of $104,290.62. Following the sale, the director owned 243,975 shares of the company’s stock, valued at $648,973.50. This represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC bought a new stake in Solid Power in the fourth quarter worth about $42,000. GEM Asset Management LLC bought a new position in shares of Solid Power during the fourth quarter valued at approximately $42,000. Cibc World Markets Corp purchased a new stake in shares of Solid Power in the fourth quarter worth approximately $43,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Solid Power in the first quarter worth approximately $32,000. Finally, Amundi bought a new stake in shares of Solid Power during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 33.66% of the company’s stock.

Solid Power Stock Up 0.8%

NASDAQ:SLDP opened at $2.40 on Friday. The business’s 50-day simple moving average is $2.92 and its two-hundred day simple moving average is $3.56. Solid Power has a 52 week low of $2.32 and a 52 week high of $8.86. The stock has a market cap of $539.95 million, a PE ratio of -5.00 and a beta of 1.90.

Solid Power (NASDAQ:SLDP) last issued its earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.07 million for the quarter, compared to the consensus estimate of $3.33 million. Sell-side 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.