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

Solid Power, Inc. (NASDAQ:SLDP) has received an average rating of “Hold” from the five research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $6.9167.

SLDP has been the topic of a number of recent analyst reports. Alliance Global Partners started coverage on Solid Power in a research note on Wednesday, June 10th. They set a “buy” rating and a $6.75 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a research note on Friday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $7.00 target price on shares of Solid Power in a research report on Wednesday, May 6th.

Solid Power Price Performance

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

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

Insider Activity at Solid Power

In other news, Director Lesa B. Roe sold 39,207 shares of the stock in a transaction dated Wednesday, May 20th. The shares were 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 $648,973.50. This represents a 13.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Solid Power

A number of large investors have recently bought and sold shares of SLDP. Creative Planning purchased a new stake in shares of Solid Power during the 2nd quarter valued at $26,000. American Century Companies Inc. purchased a new position in shares of Solid Power in the 2nd quarter worth $27,000. Corient Private Wealth LLC purchased a new position in shares of Solid Power in the 2nd quarter worth $31,000. Elevation Point Wealth Partners LLC acquired a new position in Solid Power in the first quarter valued at $32,000. Finally, Amundi acquired a new position in Solid Power in the first quarter valued at $32,000. 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.