Solid Power, Inc. (SLDP) – What Are Analysts Saying About This Stock?

Shares of Solid Power, Inc. (NASDAQ:SLDP) have been assigned an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.92.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a research report on Friday, July 17th.

Solid Power Trading Down 6.3%

Shares of SLDP opened at $2.23 on Tuesday. The stock’s 50 day moving average is $2.38 and its two-hundred day moving average is $2.69. The firm has a market capitalization of $508.84 million, a PE ratio of -4.96 and a beta of 1.99. Solid Power has a twelve month low of $1.98 and a twelve month high of $8.86.

Solid Power (NASDAQ:SLDP) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of ($0.27) million for the quarter, compared to the consensus estimate of $1.55 million. On average, sell-side analysts predict that Solid Power will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Solid Power

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of 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 purchasing an additional 1,544,134 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 worth $10,852,000 after purchasing an additional 1,683,866 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Solid Power during the second quarter worth $535,000. Arizona State Retirement System boosted its position in Solid Power by 10.6% during the second quarter. Arizona State Retirement System now owns 49,561 shares of the company’s stock worth $128,000 after purchasing an additional 4,746 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Solid Power during the second quarter worth $393,000. 33.66% of the stock is owned by institutional investors and hedge funds.

About Solid Power

Solid Power, Inc is a Colorado-based battery technology company developing rechargeable, all-solid-state batteries for electric vehicles and other applications. Its technology is designed to replace the liquid or gel electrolytes used in conventional lithium-ion batteries with a sulfide-based solid electrolyte, with the goal of improving energy density, safety and operating performance.

The company develops and tests solid-state battery cells, including automotive-scale designs, and produces sulfide solid electrolyte materials.