Solid Power, Inc. (NASDAQ:SLDP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Solid Power, Inc. (NASDAQ:SLDP – Get Rating) have been given a consensus rating of “Hold” by the six analysts that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $5.25.

A number of research analysts have weighed in on SLDP shares. Cowen started coverage on shares of Solid Power in a research report on Monday, October 31st. They set a “market perform” rating for the company. Cowen assumed coverage on shares of Solid Power in a report on Monday, October 31st. They set a “market perform” rating on the stock. Stifel Nicolaus assumed coverage on shares of Solid Power in a report on Friday, December 2nd. They set a “hold” rating and a $5.00 price objective on the stock. DA Davidson downgraded shares of Solid Power from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $13.00 to $5.00 in a report on Wednesday, November 30th. Finally, Citigroup initiated coverage on shares of Solid Power in a report on Wednesday, December 14th. They set a “neutral” rating and a $3.00 price objective on the stock.

Solid Power Price Performance

Solid Power stock opened at $3.07 on Friday. Solid Power has a fifty-two week low of $1.95 and a fifty-two week high of $9.99. The firm has a fifty day moving average price of $3.15 and a two-hundred day moving average price of $5.01.

Solid Power (NASDAQ:SLDP – Get Rating) last released its earnings results on Tuesday, November 8th. The company reported ($0.07) earnings per share for the quarter. The firm had revenue of $2.81 million for the quarter. Solid Power had a return on equity of 6.09% and a net margin of 392.40%. Analysts forecast that Solid Power will post -0.16 EPS for the current fiscal year.

Institutional Trading of Solid Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC bought a new stake in Solid Power during the second quarter worth about $28,000. Spire Wealth Management bought a new stake in Solid Power during the second quarter worth about $31,000. US Bancorp DE bought a new stake in Solid Power during the third quarter worth about $32,000. UBS Group AG grew its stake in Solid Power by 171.2% during the third quarter. UBS Group AG now owns 6,781 shares of the company’s stock worth $36,000 after buying an additional 4,281 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY grew its stake in Solid Power by 121.8% during the third quarter. Metropolitan Life Insurance Co NY now owns 8,314 shares of the company’s stock worth $44,000 after buying an additional 4,565 shares during the last quarter. Institutional investors own 33.97% of the company’s stock.

About Solid Power

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Solid Power, Inc focuses on the development and commercialization of all-solid-state battery cells and solid electrolyte materials for the battery-powered electric vehicle market in the United States. The company was founded in 2011 and is headquartered in Louisville, Colorado.