Solid Power, Inc. (NASDAQ:SLDP) Receives Average Rating of “Hold” from Analysts

Shares of Solid Power, Inc. (NASDAQ:SLDP) have been assigned an average rating of “Hold” from the five ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.9167.

Several analysts have weighed in on the company. Alliance Global Partners assumed coverage on Solid Power in a research note on Wednesday, June 10th. They set a “buy” rating and a $6.75 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Power in a report on Friday, July 17th.

Institutional Trading of Solid Power

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Solid Power by 87.0% in 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 in the last quarter. UBS Group AG raised 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 worth $4,299,000 after purchasing an additional 618,757 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Solid Power in the second quarter worth approximately $535,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Solid Power in the second quarter worth approximately $393,000. Finally, Walleye Capital LLC boosted its stake in Solid Power by 118.7% during the 1st quarter. Walleye Capital LLC now owns 67,190 shares of the company’s stock valued at $202,000 after purchasing an additional 36,470 shares in the last quarter. 33.66% of the stock is owned by institutional investors and hedge funds.

Solid Power Trading Up 6.7%

Shares of NASDAQ SLDP opened at $2.55 on Friday. The company has a market cap of $581.86 million, a price-to-earnings ratio of -5.67 and a beta of 1.94. The stock’s 50 day simple moving average is $2.33 and its 200 day simple moving average is $2.79. Solid Power has a 12-month low of $1.98 and a 12-month high of $8.86.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. Solid Power had a negative net margin of 485.47% and a negative return on equity of 19.69%. The business had revenue of ($0.27) million during the quarter, compared to analyst estimates of $1.55 million. As a group, equities analysts forecast that Solid Power will post -0.39 earnings per share for the current fiscal year.

About Solid Power

Solid Power, Inc is a developer of solid-state rechargeable battery technology headquartered in Louisville, Colorado. The company focuses on batteries that use solid, sulfide-based electrolytes rather than the liquid electrolytes found in conventional lithium-ion batteries. Solid-state designs are intended to improve safety, energy density and performance while supporting more efficient battery-pack configurations.

Solid Power develops and produces solid electrolyte materials, battery cells and related manufacturing processes.