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

Shares of Solid Power, Inc. (NASDAQ:SLDP) have earned an average rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.9167.

SLDP has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Power in a research report on Tuesday, April 21st. HC Wainwright initiated coverage on Solid Power in a research report on Monday, March 16th. They issued a “buy” rating and a $7.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $7.00 price target on shares of Solid Power in a research report on Wednesday, May 6th. Zacks Research upgraded Solid Power to a “hold” rating in a research report on Tuesday, March 17th. Finally, Alliance Global Partners initiated coverage on Solid Power in a research report on Wednesday. They issued a “buy” rating and a $6.75 price target for the company.

Insider Buying and Selling

In other Solid Power news, Director Lesa B. Roe sold 39,207 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $2.66, for a total value of $104,290.62. Following the completion of the sale, the director owned 243,975 shares in the company, valued at $648,973.50. This represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Solid Power

Institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC purchased a new stake in shares of Solid Power during the fourth quarter worth about $42,000. GEM Asset Management LLC purchased a new stake in shares of Solid Power during the fourth quarter worth about $42,000. AlphaCore Capital LLC purchased a new stake in shares of Solid Power during the third quarter worth about $35,000. Cibc World Markets Corp purchased a new stake in shares of Solid Power during the fourth quarter worth about $43,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Solid Power during the first quarter worth about $32,000. Hedge funds and other institutional investors own 33.66% of the company’s stock.

Solid Power Price Performance

Shares of SLDP stock opened at $2.80 on Wednesday. The firm has a fifty day moving average price of $3.16 and a 200-day moving average price of $3.92. The company has a market cap of $629.94 million, a price-to-earnings ratio of -5.83 and a beta of 1.87. Solid Power has a 1 year low of $1.46 and a 1 year high of $8.86.

Solid Power (NASDAQ:SLDP) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.06. The business had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $3.33 million. Solid Power had a negative return on equity of 21.57% and a negative net margin of 485.47%. Equities research analysts expect that Solid Power will post -0.44 EPS for the current 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.