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

Shares of Solid Power, Inc. (NASDAQ:SLDP) have been assigned a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $3.58.

A number of brokerages recently weighed in on SLDP. Chardan Capital reiterated a “buy” rating and set a $5.00 price target on shares of Solid Power in a research note on Thursday, August 10th. Needham & Company LLC decreased their price target on shares of Solid Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th.

Institutional Trading of Solid Power

Hedge funds have recently made changes to their positions in the company. UBS Group AG lifted its stake in shares of Solid Power by 171.2% in the 3rd quarter. UBS Group AG now owns 6,781 shares of the company’s stock worth $36,000 after acquiring an additional 4,281 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Solid Power in the first quarter valued at about $67,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Solid Power in the first quarter valued at about $31,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Solid Power in the second quarter valued at about $26,000. Finally, Cerity Partners LLC acquired a new stake in shares of Solid Power in the first quarter valued at about $31,000. Institutional investors and hedge funds own 25.62% of the company’s stock.

Solid Power Price Performance

Shares of NASDAQ:SLDP opened at $1.50 on Friday. The stock has a market cap of $266.69 million, a P/E ratio of -5.75 and a beta of 1.74. The firm has a fifty day moving average price of $1.72 and a 200 day moving average price of $2.13. Solid Power has a 1-year low of $1.20 and a 1-year high of $4.90.

About Solid Power

Solid Power, Inc develops solid state battery technologies for the electric vehicles (EV) and other markets in the United States. The company sell its sulfide-based solid electrolyte and to license its solid-state cell designs and manufacturing processes. It also produces and sells 0.2, 2, 20 ampere-hour (Ah), and EV cells.