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

Solid Power, Inc. (NASDAQ:SLDPGet Rating) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $5.30.

SLDP has been the subject of several research analyst reports. Citigroup lifted their price objective on Solid Power from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, March 3rd. DA Davidson lowered Solid Power from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $13.00 to $5.00 in a research report on Wednesday, November 30th. Needham & Company LLC began coverage on Solid Power in a research report on Wednesday, March 8th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Stifel Nicolaus began coverage on Solid Power in a research note on Friday, December 2nd. They issued a “hold” rating and a $5.00 target price for the company.

Solid Power Price Performance

SLDP stock opened at $2.81 on Friday. The stock has a 50-day moving average price of $3.13 and a 200-day moving average price of $4.08. Solid Power has a 1-year low of $1.95 and a 1-year high of $9.99.

Insider Activity

In related news, Director John Joseph Stephens purchased 214,500 shares of the business’s stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $2.92 per share, for a total transaction of $626,340.00. Following the purchase, the director now owns 300,005 shares of the company’s stock, valued at $876,014.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 11.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Solid Power

Hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Solid Power in the 4th quarter worth approximately $26,000. Jane Street Group LLC bought a new stake in Solid Power during the 4th quarter valued at $30,000. Citigroup Inc. raised its holdings in Solid Power by 29.2% during the 4th quarter. Citigroup Inc. now owns 12,069 shares of the company’s stock valued at $31,000 after acquiring an additional 2,731 shares during the period. US Bancorp DE purchased a new position in shares of Solid Power during the 3rd quarter valued at $32,000. Finally, Belvedere Trading LLC purchased a new position in shares of Solid Power during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 33.97% of the company’s stock.

About Solid Power

(Get Rating)

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.

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Analyst Recommendations for Solid Power (NASDAQ:SLDP)

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