BlackRock Fund Advisors recently announced the acquisition of new stake in Solid Power Inc. (NASDAQ:SLDP). The institutional investor has increased its shareholding in the Industrials company by 94.21% to 7.96 million shares with purchase of 3.86 million shares. This fresh investment now brings its stake to 4.53% valued currently at $26.89 million. In addition, Invesco Capital Management LLC raised its holdings by 1.82 million to 4.76 million shares. And SSgA Funds Management, Inc. has lifted its position by 19.21% or 0.38 million shares – to 2.35 million shares.
With over 2.25 million Solid Power Inc. (SLDP) shares trading Tuesday and a closing price of $2.83 on the day, the dollar volume was approximately $6.38 million. The shares have shown a negative half year performance of -56.73% and its price on 03/14/23 lost nearly -1.05%. Currently, there are 175.92M common shares owned by the public and among those 124.91M shares have been available to trade.
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The top 3 mutual fund holders in Solid Power Inc. are Invesco WilderHill Clean Energy E, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Invesco WilderHill Clean Energy E owns 4.19 million shares of the company’s stock, all valued at over $14.15 million. The company sold 35792.0 shares recently to bring their total holdings to about 2.38% of the shares outstanding. iShares Russell 2000 ETF sold 9306.0 shares to bring its total holdings to over 2.94 million shares at a value of $9.94 million. iShares Russell 2000 ETF now owns shares totaling to 1.67% of the shares outstanding.
Shares of Solid Power Inc. (NASDAQ: SLDP) opened at $2.90, up $0.04 from a prior closing price of $2.86. However, the script later moved the day high at 2.9580, down -1.05%. The company’s stock has a 5-day price change of -2.75% and 1.07% over the past three months. SLDP shares are trading 11.42% year to date (YTD), with the 12-month market performance down to -63.29% lower. It has a 12-month low price of $1.95 and touched a high of $9.99 over the same period. SLDP has an average intraday trading volume of 2.49 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.45%, -7.10%, and -43.28% respectively.
Institutional ownership of Solid Power Inc. (NASDAQ: SLDP) shares accounts for 30.10% of the company’s 175.92M shares outstanding. Mutual fund holders own 15.44%, while other institutional holders and individual stakeholders account for 26.61% and 12.89% respectively.
It has a market capitalization of $502.01M. The earnings-per-share (ttm) stands at -$0.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.82% over the week and 7.81% over the month.
Analysts forecast that Solid Power Inc. (SLDP) will achieve an EPS of $Ballard Power Systems, Inc. for the current quarter, $5.35 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Solid Biosciences Inc. while analysts give the company a high EPS estimate of $iShares MSCI Global Silver Mine. Comparatively, EPS for the current quarter was $Simulations Plus, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -174.80%, and -6.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Solid Power Inc. (SLDP) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 4 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SLDP, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on March 08, 2023, with the firm’s price target at $5. Citigroup coverage for the Solid Power Inc. (SLDP) stock in a research note released on December 14, 2022 offered a Neutral rating with a price target of $3. Stifel was of a view on December 02, 2022 that the stock is Hold, while DA Davidson gave the stock Neutral rating on November 30, 2022, issuing a price target of $13- $5. Cowen on their part issued Market Perform rating on October 31, 2022.
