Solid Power (NASDAQ:SLDP) Hits New 12-Month Low – Time to Sell?

Shares of Solid Power, Inc. (NASDAQ:SLDP) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $2.21 and last traded at $2.23, with a volume of 3340248 shares changing hands. The stock had previously closed at $2.32.

Analysts Set New Price Targets

A number of analysts recently commented on SLDP shares. Alliance Global Partners started coverage on Solid Power in a report on Wednesday, June 10th. They set a “buy” rating and a $6.75 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $7.00 price objective on shares of Solid Power in a research note on Wednesday, May 6th. HC Wainwright began coverage on Solid Power in a research report on Monday, March 16th. They set a “buy” rating and a $7.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a research note on Tuesday, April 21st. Finally, Zacks Research raised shares of Solid Power to a “hold” rating in a report on Tuesday, March 17th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.92.

Solid Power Trading Down 3.9%

The stock’s 50-day moving average price is $2.88 and its two-hundred day moving average price is $3.53. The stock has a market capitalization of $501.71 million, a P/E ratio of -4.65 and a beta of 1.90.

Solid Power (NASDAQ:SLDP) last posted 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. Solid Power had a negative net margin of 485.47% and a negative return on equity of 21.57%. The company had revenue of $3.07 million for the quarter, compared to analysts’ expectations of $3.33 million. On average, equities research analysts predict that Solid Power, Inc. will post -0.44 earnings per share for the current year.

Insider Transactions at Solid Power

In other Solid Power news, Director Lesa B. Roe sold 39,207 shares of the firm’s stock in a transaction on 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 directly owned 243,975 shares of the company’s stock, valued at $648,973.50. This trade represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLDP. Tudor Investment Corp ET AL purchased a new stake in Solid Power in the 3rd quarter worth about $1,709,000. UBS Group AG lifted its holdings in Solid Power by 157.5% during the fourth quarter. UBS Group AG now owns 1,011,495 shares of the company’s stock valued at $4,299,000 after purchasing an additional 618,757 shares during the last quarter. Abel Hall LLC purchased a new stake in Solid Power during the first quarter valued at about $36,000. Elevation Point Wealth Partners LLC bought a new position in Solid Power during the first quarter worth about $32,000. Finally, Ground Swell Capital LLC bought a new position in Solid Power during the first quarter worth about $51,000. Hedge funds and other institutional investors own 33.66% of the company’s stock.

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.