Solid Power (NASDAQ:SLDP) Stock Price Up 11.9% – Time to Buy?
by Doug Wharley · The Cerbat GemSolid Power, Inc. (NASDAQ:SLDP – Get Free Report) rose 11.9% on Wednesday . The company traded as high as $4.05 and last traded at $3.9630. Approximately 5,378,994 shares were traded during trading, a decline of 1% from the average daily volume of 5,445,122 shares. The stock had previously closed at $3.54.
Analyst Upgrades and Downgrades
SLDP has been the topic of a number of research reports. HC Wainwright initiated coverage on Solid Power in a research report on Monday, March 16th. They set a “buy” rating and a $7.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Power in a research report on Thursday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Solid Power in a research report on Wednesday, January 14th. Finally, Zacks Research upgraded Solid Power to a “hold” rating in a research report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.00.
Get Our Latest Analysis on SLDP
Solid Power Stock Up 8.9%
The stock has a market cap of $850.33 million, a PE ratio of -7.69 and a beta of 1.94. The company has a fifty day moving average price of $3.26 and a 200 day moving average price of $4.63.
Solid Power (NASDAQ:SLDP – Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.02. The firm had revenue of $0.86 million for the quarter, compared to the consensus estimate of $2.50 million. Solid Power had a negative return on equity of 23.88% and a negative net margin of 429.54%. As a group, research analysts predict that Solid Power, Inc. will post -0.52 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Creative Planning purchased a new position in Solid Power during the 2nd quarter valued at about $26,000. American Century Companies Inc. purchased a new position in Solid Power during the 2nd quarter valued at about $27,000. Corient Private Wealth LLC purchased a new position in Solid Power during the 2nd quarter valued at about $31,000. Brown Advisory Inc. purchased a new position in Solid Power during the 2nd quarter valued at about $33,000. Finally, AlphaCore Capital LLC purchased a new position in Solid Power during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 33.66% of the company’s stock.
About Solid Power
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.