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

Solid Power, Inc. (NASDAQ:SLDP – Get Rating) has earned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $4.90.

Several equities analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Solid Power from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Friday, March 3rd. DA Davidson lowered their price target on shares of Solid Power from $4.00 to $3.00 in a research note on Tuesday, May 9th. Finally, Needham & Company LLC initiated coverage on shares of Solid Power in a research note on Wednesday, March 8th. They set a “buy” rating and a $5.00 price target on the stock.

Insider Buying and Selling

In other Solid Power news, Director John Joseph Stephens acquired 214,500 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were acquired at an average cost of $2.92 per share, for a total transaction of $626,340.00. Following the transaction, the director now directly owns 300,005 shares of the company’s stock, valued at $876,014.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GEM Asset Management LLC purchased a new position in Solid Power in the 4th quarter valued at about $36,000. Bayesian Capital Management LP acquired a new position in shares of Solid Power during the 3rd quarter valued at about $298,000. SG Americas Securities LLC increased its stake in shares of Solid Power by 476.3% during the 4th quarter. SG Americas Securities LLC now owns 300,357 shares of the company’s stock valued at $763,000 after acquiring an additional 248,236 shares during the last quarter. C2C Wealth Management LLC acquired a new position in shares of Solid Power during the 4th quarter valued at about $75,000. Finally, Spire Wealth Management increased its stake in shares of Solid Power by 173.3% during the 4th quarter. Spire Wealth Management now owns 20,500 shares of the company’s stock valued at $52,000 after acquiring an additional 13,000 shares during the last quarter. 33.97% of the stock is currently owned by hedge funds and other institutional investors.

Solid Power Stock Performance

Shares of SLDP opened at $2.07 on Friday. The stock has a market capitalization of $368.11 million, a P/E ratio of -20.70 and a beta of 1.52. The company’s fifty day moving average is $2.44 and its two-hundred day moving average is $2.99. Solid Power has a 1 year low of $1.83 and a 1 year high of $9.40.

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.