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

Solid Power, Inc. (NASDAQ:SLDP) has earned a consensus rating 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 rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $6.9167.

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

Solid Power Price Performance

Solid Power stock opened at $2.37 on Monday. The company has a market cap of $540.79 million, a PE ratio of -5.27 and a beta of 1.92. The company has a fifty day moving average price of $2.40 and a two-hundred day moving average price of $2.97. Solid Power has a 12 month low of $1.98 and a 12 month high of $8.86.

Solid Power (NASDAQ:SLDP) last issued 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. Solid Power had a negative net margin of 485.47% and a negative return on equity of 19.69%. The company had revenue of ($0.27) million for the quarter, compared to analysts’ expectations of $1.55 million. Equities research analysts anticipate that Solid Power will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Solid Power

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Solid Power by 12.7% during the first quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company’s stock valued at $939,000 after acquiring an additional 100,939 shares during the period. Creative Planning acquired a new position in Solid Power during the 2nd quarter valued at about $26,000. American Century Companies Inc. acquired a new position in Solid Power during the 2nd quarter valued at about $27,000. Prudential Financial Inc. grew its position in Solid Power by 69.7% in the 2nd quarter. Prudential Financial Inc. now owns 17,480 shares of the company’s stock worth $38,000 after purchasing an additional 7,180 shares during the last quarter. Finally, Brown Advisory Inc. bought a new position in Solid Power in the 2nd quarter worth about $33,000. 33.66% of the stock is owned by institutional investors and hedge funds.

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.