Solid Power, Inc. (NASDAQ:SLDP) Stock Has Consensus Price Target of $6.92

Solid Power, Inc. (NASDAQ:SLDP) has been given a consensus recommendation of “Hold” by the five analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.92.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Power in a research note on Thursday, October 15th.

Solid Power Stock Performance

NASDAQ SLDP opened at $1.99 on Friday. The business has a fifty day moving average price of $2.26 and a 200 day moving average price of $2.87. The company has a market cap of $454.08 million, a P/E ratio of -4.74 and a beta of 1.97. Solid Power has a one year low of $1.91 and a one year high of $8.02.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. Solid Power had a negative return on equity of 19.69% and a negative net margin of 485.47%. The company had revenue of $1.22 million during the quarter, compared to analysts’ expectations of $1.38 million. As a group, sell-side analysts predict that Solid Power will post -0.39 EPS for the current fiscal year.

Institutional Trading of Solid Power

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Solid Power by 87.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,618,519 shares of the company’s stock valued at $10,852,000 after acquiring an additional 1,683,866 shares during the last quarter. State Street Corp boosted its position in Solid Power by 36.4% in the 2nd quarter. State Street Corp now owns 5,787,916 shares of the company’s stock valued at $14,991,000 after buying an additional 1,544,134 shares during the last quarter. Inspire Investing LLC acquired a new stake in Solid Power during the 3rd quarter worth approximately $636,000. Squarepoint Ops LLC acquired a new position in Solid Power during the 2nd quarter worth approximately $535,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Solid Power in the second quarter valued at $393,000. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

About Solid Power

Solid Power, Inc is a battery technology company that develops all-solid-state rechargeable batteries and the materials used to manufacture them. Its technology is designed to replace conventional liquid or gel electrolytes with solid electrolytes, with the goal of improving battery safety, energy density and performance for electric vehicles and other applications.

The company’s core products and development activities include sulfide-based solid electrolyte materials, solid-state battery cells and related manufacturing processes.