Solid Power (NASDAQ:SLDP) Reaches New 1-Year Low – What’s Next?

Solid Power, Inc. (NASDAQ:SLDP) reached a new 52-week low on Wednesday . The company traded as low as $2.37 and last traded at $2.3940, with a volume of 597478 shares traded. The stock had previously closed at $2.41.

Analysts Set New Price Targets

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

Solid Power Price Performance

The company has a market capitalization of $539.95 million, a PE ratio of -5.00 and a beta of 1.90. The stock’s 50 day simple moving average is $2.92 and its 200-day simple moving average is $3.56.

Solid Power (NASDAQ:SLDP) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.07 million for the quarter, compared to analysts’ expectations of $3.33 million. On average, equities analysts predict that Solid Power, Inc. will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In other Solid Power news, Director Lesa B. Roe sold 39,207 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $2.66, for a total value of $104,290.62. Following the completion of the transaction, the director owned 243,975 shares of the company’s stock, valued at $648,973.50. This trade represents a 13.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Optiver Holding B.V. acquired a new position in Solid Power during the 1st quarter worth $50,000. Amundi acquired a new stake in Solid Power in the 1st quarter valued at about $32,000. Walleye Capital LLC boosted its stake in shares of Solid Power by 118.7% in the 1st quarter. Walleye Capital LLC now owns 67,190 shares of the company’s stock valued at $202,000 after buying an additional 36,470 shares during the period. First Trust Advisors LP boosted its stake in shares of Solid Power by 14.4% in the 1st quarter. First Trust Advisors LP now owns 42,448 shares of the company’s stock valued at $127,000 after buying an additional 5,353 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 1,683,866 shares in the last quarter. 33.66% of the stock is currently owned by hedge funds and other institutional investors.

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.