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

Shares of Solid Power, Inc. (NASDAQ:SLDP) have earned an average rating of “Hold” from the five brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.92.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Power in a research report on Thursday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its stake 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 purchasing an additional 1,544,134 shares during the period. 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 worth $10,852,000 after buying an additional 1,683,866 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Solid Power in the second quarter worth approximately $535,000. Abel Hall LLC bought a new stake in Solid Power during the first quarter valued at approximately $36,000. Finally, SG Americas Securities LLC bought a new stake in Solid Power during the first quarter valued at approximately $73,000. 33.66% of the stock is owned by hedge funds and other institutional investors.

Solid Power Trading Down 3.0%

Shares of SLDP opened at $1.95 on Tuesday. The firm has a fifty day simple moving average of $2.36 and a two-hundred day simple moving average of $2.66. The firm has a market cap of $444.95 million, a PE ratio of -4.33 and a beta of 1.99. Solid Power has a 1-year low of $1.93 and a 1-year high of $8.86.

Solid Power (NASDAQ:SLDP) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.55 million. As a group, research analysts forecast that Solid Power will post -0.39 EPS for the current fiscal year.

Solid Power Company Profile

Solid Power, Inc is a Colorado-based battery technology company developing rechargeable, all-solid-state batteries for electric vehicles and other applications. Its technology is designed to replace the liquid or gel electrolytes used in conventional lithium-ion batteries with a sulfide-based solid electrolyte, with the goal of improving energy density, safety and operating performance.

The company develops and tests solid-state battery cells, including automotive-scale designs, and produces sulfide solid electrolyte materials.