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Solid Power (NASDAQ:SLDP) Stock Rating Lowered by DA Davidson

kopsource ·  Dec 4, 2022 16:01

DA Davidson lowered shares of Solid Power (NASDAQ:SLDP – Get Rating) from a buy rating to a neutral rating in a report released on Wednesday morning, Marketbeat Ratings reports. They currently have $5.00 price objective on the stock, down from their previous price objective of $13.00.

Several other brokerages have also recently issued reports on SLDP. Cowen assumed coverage on Solid Power in a report on Monday, October 31st. They issued a market perform rating for the company. Cowen assumed coverage on Solid Power in a report on Monday, October 31st. They issued a market perform rating for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $7.75.

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Solid Power Price Performance

Shares of SLDP stock opened at $3.25 on Wednesday. The business has a 50-day simple moving average of $5.07 and a 200-day simple moving average of $6.14. Solid Power has a 52-week low of $2.88 and a 52-week high of $14.85.

Solid Power (NASDAQ:SLDP – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($0.07) earnings per share (EPS) for the quarter. The company had revenue of $2.81 million during the quarter. Solid Power had a net margin of 392.40% and a return on equity of 6.09%.

Hedge Funds Weigh In On Solid Power

A number of large investors have recently bought and sold shares of the business. Sagefield Capital LP increased its stake in Solid Power by 119.7% during the 1st quarter. Sagefield Capital LP now owns 48,575 shares of the company's stock worth $421,000 after buying an additional 26,465 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Solid Power by 65.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 33,909 shares of the company's stock worth $182,000 after buying an additional 13,472 shares in the last quarter. Mascoma Wealth Management LLC increased its stake in Solid Power by 57.0% during the 2nd quarter. Mascoma Wealth Management LLC now owns 14,739 shares of the company's stock worth $79,000 after buying an additional 5,350 shares in the last quarter. CVA Family Office LLC purchased a new stake in Solid Power during the 2nd quarter worth approximately $4,485,000. Finally, Strs Ohio purchased a new stake in Solid Power during the 2nd quarter worth approximately $71,000. Institutional investors and hedge funds own 21.55% 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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