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

Shares of Solid Power, Inc. (NASDAQ:SLDP) have been assigned a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation 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.

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

Insider Transactions at Solid Power

In other 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 completion of the transaction, the director directly owned 243,975 shares of the company’s stock, valued at approximately $648,973.50. This represents a 13.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Solid Power

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position 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 worth $32,760,000 after purchasing an additional 1,278,324 shares in the last quarter. Bank of America Corp DE lifted 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 valued at $22,538,000 after purchasing an additional 6,335,739 shares during the period. Riverstone Holdings LLC lifted its stake in shares of Solid Power by 3.7% in the third quarter. Riverstone Holdings LLC now owns 4,714,816 shares of the company’s stock valued at $16,360,000 after purchasing an additional 169,709 shares during the period. Geode Capital Management LLC boosted its holdings in Solid Power by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 4,111,916 shares of the company’s stock worth $17,479,000 after buying an additional 268,539 shares in the last quarter. Finally, State Street Corp boosted its holdings in Solid Power by 25.9% during the fourth quarter. State Street Corp now owns 4,077,239 shares of the company’s stock worth $17,328,000 after buying an additional 839,471 shares in the last quarter. Institutional investors and hedge funds own 33.66% of the company’s stock.

Solid Power Stock Performance

NASDAQ:SLDP opened at $2.52 on Friday. The firm has a market cap of $566.95 million, a P/E ratio of -5.25 and a beta of 1.90. The stock’s 50 day simple moving average is $3.01 and its 200-day simple moving average is $3.63. Solid Power has a 12-month low of $2.22 and a 12-month high of $8.86.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.06) EPS for the quarter, topping 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 business had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $3.33 million. Research analysts forecast that Solid Power will post -0.44 EPS for the current fiscal year.

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.