The stock of Solid Power Inc. (NASDAQ:SLDP) increased by $0.11 on Tuesday to at $2.29, up 5.05 percent. The last five days have seen an average of 1,216,476 shares of common stock traded. 11 times new highs were reached in the current year, with a fall of -$0.24. The average number of shares traded over the last 20 days was 1,678,384, while the average volume over the last 50 days totaled 2,160,052.
SLDP stock dropped -19.93% since last month. On 08/25/23, the company’s shares reached a one-month low of $2.01. The stock touched a high of $6.95 on 02/02/23, after rallying from a low of $1.83 in 52 weeks. The price of SLDP stock has declined by -9.84% or -$0.24 this year, reaching a new high 11 times. Still, the stock price is down -67.07% from the 52-week high.
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Insider Transactions
SLDP stock investors should be aware that Solid Power Inc. (SLDP) stock had its last reported insider trading activity 96 days ago on May 25. On May 25, Director ANDERSON ERIK J sold 1,901 shares at $2.10 each. This transaction resulted in the insider making $3,992. On Mar 10, STEPHENS JOHN JOSEPH added 214,500 shares at a price of US$2.92. After the transaction, the insider now owns 300,005 shares. Chief Executive Officer Campbell Douglas M had earlier sold 170,000 shares on Aug 31 for $6.41 a share. The transaction was completed for $1,089,700.
Valuation Metrics
Beta for the stock is 1.73. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 24.79, the price-to-book (PB) ratio of 0.77.
Financial Health
For the three months ended June 29, Solid Power Inc.’s quick ratio was 17.60, while its current ratio was 17.60, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is -13.00% percent. Based on annual data, it had gross profit of $2.2 million and revenue of $11.79 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SLDP’s return on assets (ROA) during the last 12 months has been -7.60%. There was a -10.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -8.10%.
Earnings Surprise
According to Solid Power Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $4.91 million, while revenues rose by 47.45% to $3.79 million. It was predicted that Solid Power Inc.’s quarterly earnings would be -$0.07, but it ended up being -$0.11, beating the consensus by 36.40%. EBITDA was -$22.14 million for the quarter. At the end of Solid Power Inc.’s most recent quarter ended June 29, its liabilities totaled 28.7 million, while its total debt was $9.75 million. Equity owned by shareholders amounts to $178.39 million.
Technical Picture
Here’s a quick look at Solid Power Inc.’s (SLDP) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 52.89%, suggesting the stock is Neutral, with a 113.11% historical volatility rate.
The stochastic %K and %D were 23.92% and 13.55% respectively, while the average true range (ATR) was 0.14. Based on the 14-day stochastic reading of 40.71%, the RSI (14) reading is 48.09%. On the 9-day MACD Oscillator, the stock is at 0.07.
Analyst Ratings
Solid Power Inc. (NASDAQ: SLDP) was downgraded by Wolfe Research to a an Underperform rating in its latest research report. The stock was previously rated as a a Peer perform. Analysts have assigned Solid Power Inc. (SLDP) an Hold rating. SLDP is a stock that is recommended for selling by 1 brokerage firm, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is SLDP’s price target for the next 12 months?
The current consensus forecast for the stock is between $2.00 and $5.00, with a median target price of $3.50. In analyzing these forecasts, the average price target given by analysts for Solid Power Inc. (SLDP) is $3.50.
