In the last trading session, 1.49 million Solid Power Inc (NASDAQ:SLDP) shares changed hands as the company’s beta touched 1.79. With the company’s per share price at $1.48 changed hands at -$0.02 or -1.34% during last session, the market valuation stood at $263.20M. SLDP’s last price was a discount, traded about -231.08% off its 52-week high of $4.90. The share price had its 52-week low at $1.20, which suggests the last value was 18.92% up since then. When we look at Solid Power Inc’s average trading volume, we note the 10-day average is 2.57 million shares, with the 3-month average coming to 1.60 million.
Analysts gave the Solid Power Inc (SLDP) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended SLDP as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Solid Power Inc’s EPS for the current quarter is expected to be -$0.13.
Solid Power Inc (NASDAQ:SLDP) trade information
Instantly SLDP was in red as seen at the end of in last trading. With action 9.26%, the performance over the past five days has been green. The drop to weekly highs of 1.7500 on Friday, 11/17/23 subtracted -1.34% to the stock’s daily price. The company’s shares are showing year-to-date downside of -41.93%, with the 5-day performance at 9.26% in the green. However, in the 30-day time frame, Solid Power Inc (NASDAQ:SLDP) is -4.84% down. Looking at the short shares, we see there were 9.47 million shares sold at short interest cover period of 6.44 days.
The consensus price target for the stock as assigned by Wall Street analysts is $3.63, meaning bulls need an upside of 59.23% from its current market value. According to analyst projections, SLDP’s forecast low is $3.00 with $5.00 as the target high. To hit the forecast high, the stock’s price needs a -237.84% plunge from its current level, while the stock would need to soar -102.7% for it to hit the projected low.
Solid Power Inc (SLDP) estimates and forecasts
Data shows that the Solid Power Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -22.37% over the past 6 months, a -640.00% in annual growth rate that is considerably lower than the industry average of 20.40%. Year-over-year growth is forecast to reach 59.00% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $4.08 million. 1 analysts are of the opinion that Solid Power Inc’s revenue for the quarter ending Mar 2024 will be $5 million. The company’s revenue for the corresponding quarters a year ago was $4.2 million and $3.79 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -2.80%. The estimates for the next quarter sales put growth at 31.90%.
The 2023 estimates are for Solid Power Inc earnings to decrease by -668.00%.
Solid Power Inc is expected to release its next quarterly earnings report on November 07.
Solid Power Inc (NASDAQ:SLDP)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 25.16% of Solid Power Inc shares while 28.23% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 37.73%. There are 28.23% institutions holding the Solid Power Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 6.24% of the shares, roughly 11.13 million SLDP shares worth $28.26 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 3.33% or 5.95 million shares worth $15.11 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and iShares Russell 2000 ETF. With 4.07 million shares estimated at $8.63 million under it, the former controlled 2.28% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.99% of the shares, roughly 3.55 million shares worth around $7.52 million.