Solid Power Inc (NASDAQ: SLDP) Stock: Does It Mean Opportunity?

In the last trading session, 2.88 million shares of the Solid Power Inc (NASDAQ:SLDP) were traded, and its beta was 1.76. Most recently the company’s share price was $1.91, and it changed around -$0.07 or -3.54% from the last close, which brings the market valuation of the company to $345.88M. SLDP currently trades at a discount to its 52-week high of $3.20, offering almost -67.54% off that amount. The share price’s 52-week low was $1.10, which indicates that the current value has risen by an impressive 42.41% since then. We note from Solid Power Inc’s average daily trading volume that its 10-day average is 4.1 million shares, with the 3-month average coming to 3.92 million.

Solid Power Inc (NASDAQ:SLDP) trade information

Instantly SLDP has showed a red trend with a performance of -3.54% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 31.72% year-to-date, but still up 20.13% over the last five days. On the other hand, Solid Power Inc (NASDAQ:SLDP) is 16.46% up in the 30-day period. We can see from the shorts that 14.3 million shares have been sold at a short interest cover period of 5.48 day(s).

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Solid Power Inc (SLDP) estimates and forecasts

Solid Power Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -5.45 percent over the past six months and at a -13.51% annual growth rate that is well below the industry average of 14.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 18.20% in revenue this quarter, and will report a decrease of -28.60% in the next quarter. The year-over-year growth rate is expected to be 22.50%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $4.83 million in revenue for the current quarter. 3 analysts expect Solid Power Inc to make $5.07 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $3.79 million and $4.91 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 27.40%. Forecasts for the next quarter put sales growth at 3.30%.

SLDP Dividends

Solid Power Inc’s next quarterly earnings report is expected to be released around May 06 and May 10.

Solid Power Inc (NASDAQ:SLDP)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 21.00% of Solid Power Inc shares, and 27.36% of them are in the hands of institutional investors. The stock currently has a share float of 34.63%. Solid Power Inc stock is held by 173 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 6.24% of the shares, which is about 11.13 million shares worth $28.26 million.

Vanguard Group Inc, with 3.33% or 5.95 million shares worth $15.11 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and iShares Russell 2000 ETF were the top two Mutual Funds as of Aug 30, 2023. The former held 4.07 million shares worth $8.63 million, making up 2.28% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 3.55 million shares worth around $7.52 million, which represents about 1.99% of the total shares outstanding.