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

Solid Power, Inc. (NASDAQ:SLDP)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.14 and last traded at $2.15, with a volume of 4448502 shares traded. The stock had previously closed at $2.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Power in a research report on Friday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Solid Power in a research note on Wednesday, May 6th. Finally, Alliance Global Partners began coverage on Solid Power in a research note on Wednesday, June 10th. They set a “buy” rating and a $6.75 price target for the company. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.92.

Solid Power Price Performance

The firm has a market cap of $467.96 million, a PE ratio of -4.33 and a beta of 1.90. The business’s fifty day moving average is $2.73 and its 200-day moving average is $3.40.

Solid Power (NASDAQ:SLDP) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.06. Solid Power had a negative return on equity of 21.57% and a negative net margin of 485.47%.The business had revenue of $3.07 million for the quarter, compared to the consensus estimate of $3.33 million. Analysts forecast that Solid Power, Inc. will post -0.44 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Solid Power

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in Solid Power by 12.7% during the first quarter. Goldman Sachs Group Inc. now owns 894,120 shares of the company’s stock valued at $939,000 after purchasing an additional 100,939 shares during the last quarter. Creative Planning purchased a new position in shares of Solid Power in the second quarter worth about $26,000. American Century Companies Inc. bought a new stake in shares of Solid Power in the second quarter valued at approximately $27,000. Prudential Financial Inc. raised its position in shares of Solid Power by 69.7% in the second quarter. Prudential Financial Inc. now owns 17,480 shares of the company’s stock valued at $38,000 after purchasing an additional 7,180 shares during the period. Finally, Brown Advisory Inc. purchased a new stake in shares of Solid Power during the 2nd quarter valued at approximately $33,000. 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.