Solid Power (NASDAQ:SLDP) Reaches New 1-Year Low – What’s Next?

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

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Power in a report on Thursday, October 15th. Three investment 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 data from MarketBeat.com, Solid Power currently has an average rating of “Hold” and an average target price of $6.92.

Solid Power Trading Down 2.8%

The business’s 50-day moving average is $2.26 and its 200-day moving average is $2.87.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $1.22 million for the quarter, compared to analyst estimates of $1.38 million. Solid Power had a negative net margin of 485.47% and a negative return on equity of 18.35%. Analysts expect that Solid Power, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Solid Power by 36.4% in the 2nd quarter. State Street Corp now owns 5,787,916 shares of the company’s stock worth $14,991,000 after acquiring an additional 1,544,134 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Solid Power by 87.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,618,519 shares of the company’s stock worth $10,852,000 after acquiring an additional 1,683,866 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Solid Power by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 450,866 shares of the company’s stock valued at $1,353,000 after purchasing an additional 21,117 shares in the last quarter. Inspire Investing LLC acquired a new stake in Solid Power during the 3rd quarter valued at $636,000. Finally, Squarepoint Ops LLC acquired a new stake in Solid Power during the 2nd quarter valued at $535,000. Institutional investors own 33.66% of the company’s stock.

Solid Power Company Profile

Solid Power, Inc is a battery technology company that develops all-solid-state rechargeable batteries and the materials used to manufacture them. Its technology is designed to replace conventional liquid or gel electrolytes with solid electrolytes, with the goal of improving battery safety, energy density and performance for electric vehicles and other applications.

The company’s core products and development activities include sulfide-based solid electrolyte materials, solid-state battery cells and related manufacturing processes.