Solid Power, Inc. (NASDAQ:SLDP) Stock Has Consensus Price Target of $6.92 According to Analysts

Shares of Solid Power, Inc. (NASDAQ:SLDP) have been assigned an average rating of “Hold” from the five research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $6.92.

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

Solid Power Price Performance

Solid Power stock opened at $2.35 on Friday. The business’s 50-day simple moving average is $2.34 and its 200 day simple moving average is $2.76. The stock has a market cap of $536.22 million, a price-to-earnings ratio of -5.22 and a beta of 1.94. Solid Power has a 12-month low of $1.98 and a 12-month high of $8.86.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new stake in shares of Solid Power during the second quarter worth $27,000. Elevation Point Wealth Partners LLC acquired a new position in Solid Power in the first quarter valued at about $32,000. Amundi bought a new position in Solid Power during the first quarter worth about $32,000. Allworth Financial LP boosted its holdings in Solid Power by 82.6% during the fourth quarter. Allworth Financial LP now owns 11,246 shares of the company’s stock worth $48,000 after buying an additional 5,087 shares during the last quarter. Finally, Abel Hall LLC bought a new position in Solid Power during the first quarter worth about $36,000. Institutional investors and hedge funds own 33.66% of the company’s stock.

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.