Solid Power (NASDAQ:SLDP) Hits New 52-Week Low – What’s Next?

Solid Power, Inc. (NASDAQ:SLDP)’s share price reached a new 52-week low during mid-day trading on Monday. The company traded as low as $1.85 and last traded at $1.93, with a volume of 5,485,319 shares. The stock had previously closed at $1.9850.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a research report on Thursday, October 15th. 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 stock. According to MarketBeat.com, Solid Power currently has a consensus rating of “Hold” and an average price target of $6.92.

Solid Power Trading Up 4.8%

The firm has a fifty day moving average price of $2.25 and a 200 day moving average price of $2.83. The firm has a market cap of $451.80 million, a PE ratio of -4.71 and a beta of 1.97.

Solid Power (NASDAQ:SLDP) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.11) earnings per share for the quarter, beating 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 18.38%. The firm had revenue of $1.22 million for the quarter, compared to analysts’ expectations of $1.38 million. As a group, equities analysts predict that Solid Power, Inc. will post -0.39 earnings per share for the current year.

Institutional Trading of Solid Power

Hedge funds have recently made changes to their positions in the company. LexAurum Advisors LLC acquired a new stake in shares of Solid Power during the 3rd quarter worth approximately $26,000. TSG Advice Partners LLC acquired a new position in Solid Power in the third quarter valued at approximately $26,000. Tidal Investments LLC acquired a new position in Solid Power in the second quarter valued at approximately $27,000. Lido Advisors LLC acquired a new position in Solid Power in the third quarter valued at approximately $29,000. Finally, Amundi purchased a new position in Solid Power in the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 33.66% of the company’s stock.

Solid Power Company Profile

Solid Power, Inc. develops solid-state battery technology for electric vehicles and other applications. The company focuses on sulfide-based solid electrolytes and all-solid-state battery cells, which are designed to replace the liquid electrolyte used in conventional lithium-ion batteries. Solid Power’s activities include developing and testing battery materials and cells, as well as supporting automotive partners as they evaluate and manufacture the technology. Its business model emphasizes supplying solid electrolyte and licensing cell designs and production processes, rather than producing batteries at large scale for consumers.