Solid Power Inc (NASDAQ: SLDP) has seen a rise in its stock price by 2.37 in relation to its previous close of 1.69. However, the company has experienced a 2.37% gain in its stock price over the last five trading sessions. InvestorPlace reported 2024-05-01 that With the fallout in the electric vehicle space, contrarian investors may want to consider certain battery stocks to buy. This approach has a few advantages over targeting specific EV brands.
Is It Worth Investing in Solid Power Inc (NASDAQ: SLDP) Right Now?
Company’s 36-month beta value is 1.79.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for SLDP is 132.12M, and currently, short sellers hold a 11.72% ratio of that floaft. The average trading volume of SLDP on May 02, 2024 was 2.77M shares.
SLDP’s Market Performance
SLDP’s stock has seen a 2.37% increase for the week, with a -9.42% drop in the past month and a 6.79% gain in the past quarter. The volatility ratio for the week is 5.75%, and the volatility levels for the past 30 days are at 6.62% for Solid Power Inc The simple moving average for the past 20 days is 1.59% for SLDP’s stock, with a -0.97% simple moving average for the past 200 days.
Analysts’ Opinion of SLDP
Many brokerage firms have already submitted their reports for SLDP stocks, with Wolfe Research repeating the rating for SLDP by listing it as a “Underperform.” The predicted price for SLDP in the upcoming period, according to Wolfe Research is $2 based on the research report published on June 08, 2023 of the previous year 2023.
Needham, on the other hand, stated in their research note that they expect to see SLDP reach a price target of $5. The rating they have provided for SLDP stocks is “Buy” according to the report published on March 08th, 2023.
Citigroup gave a rating of “Neutral” to SLDP, setting the target price at $3 in the report published on December 14th of the previous year.
SLDP Trading at 5.58% from the 50-Day Moving Average
After a stumble in the market that brought SLDP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -45.94% of loss for the given period.
Volatility was left at 6.62%, however, over the last 30 days, the volatility rate increased by 5.75%, as shares sank -5.98% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.59% upper at present.
During the last 5 trading sessions, SLDP rose by +2.37%, which changed the moving average for the period of 200-days by -39.93% in comparison to the 20-day moving average, which settled at $1.6975. In addition, Solid Power Inc saw 19.31% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SLDP starting from Buettner-Garrett Joshua, who sale 187,500 shares at the price of $1.86 back on Apr 03 ’24. After this action, Buettner-Garrett Joshua now owns 692,993 shares of Solid Power Inc, valued at $348,900 using the latest closing price.
Buettner-Garrett Joshua, the Chief Technology Officer of Solid Power Inc, sale 187,500 shares at $1.36 during a trade that took place back on Mar 18 ’24, which means that Buettner-Garrett Joshua is holding 336,539 shares at $254,700 based on the most recent closing price.
Stock Fundamentals for SLDP
Current profitability levels for the company are sitting at:
- -5.2 for the present operating margin
- -0.59 for the gross margin
The net margin for Solid Power Inc stands at -3.92. The total capital return value is set at -0.17. Equity return is now at value -12.38, with -11.54 for asset returns.
Based on Solid Power Inc (SLDP), the company’s capital structure generated 0.02 points at debt to capital in total, while cash flow to debt ratio is standing at -6.1. The debt to equity ratio resting at 0.02. The interest coverage ratio of the stock is -1078.79.
Currently, EBITDA for the company is -77.88 million with net debt to EBITDA at 0.4. When we switch over and look at the enterprise to sales, we see a ratio of 16.56. The receivables turnover for the company is 11.21for trailing twelve months and the total asset turnover is 0.03. The liquidity ratio also appears to be rather interesting for investors as it stands at 11.53.
Conclusion
In a nutshell, Solid Power Inc (SLDP) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
