The stock of Solid Power Inc (NASDAQ: SLDP) has decreased by -2.45 when compared to last closing price of 1.24. Despite this, the company has experienced a -1.66% fall in its stock price over the last five trading sessions. globenewswire.com reported 2024-09-20 that LOUISVILLE, Colo., Sept. 20, 2024 (GLOBE NEWSWIRE) — Solid Power, Inc. (Nasdaq: SLDP), a leading developer of solid-state battery technology, today announced it was selected by the U.S. Department of Energy’s (“DOE”) Office of Manufacturing and Energy Supply Chains to begin award negotiations for up to $50 million in federal funding under the Bipartisan Infrastructure Law. With this project, Solid Power intends to install the first globally known continuous manufacturing process of sulfide-based solid electrolyte materials for advanced all-solid-state batteries (ASSBs) and expand its electrolyte production capabilities at its Thornton, CO facility. The expansion is designed to further the Company’s technology roadmap and support anticipated small volume programs of current and future customers as they begin to transition from traditional lithium-ion to ASSB technology.
Is It Worth Investing in Solid Power Inc (NASDAQ: SLDP) Right Now?
The 36-month beta value for SLDP is also noteworthy at 1.73. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 0 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
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The public float for SLDP is 137.87M, and at present, short sellers hold a 11.49% of that float. The average trading volume of SLDP on October 31, 2024 was 1.52M shares.
SLDP’s Market Performance
SLDP stock saw a decrease of -1.66% in the past week, with a monthly decline of -4.76% and a quarterly a decrease of -26.69%. The volatility ratio for the week is 3.76%, and the volatility levels for the last 30 days are 3.04% for Solid Power Inc (SLDP). The simple moving average for the past 20 days is -3.27% for SLDP’s stock, with a -23.70% 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 $1 based on the research report published on September 05, 2024 of the current year 2024.
Wolfe Research, on the other hand, stated in their research note that they expect to see SLDP reach a price target of $2. The rating they have provided for SLDP stocks is “Underperform” according to the report published on June 08th, 2023.
Needham gave a rating of “Buy” to SLDP, setting the target price at $5 in the report published on March 08th of the previous year.
SLDP Trading at -7.65% 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 -48.53% of loss for the given period.
Volatility was left at 3.04%, however, over the last 30 days, the volatility rate increased by 3.76%, as shares sank -4.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.81% lower at present.
During the last 5 trading sessions, SLDP fell by -2.44%, which changed the moving average for the period of 200-days by +0.84% in comparison to the 20-day moving average, which settled at $1.2500. In addition, Solid Power Inc saw -16.58% in overturn over a single year, with a tendency to cut further losses.
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 $1.26 back on Oct 07 ’24. After this action, Buettner-Garrett Joshua now owns 869,720 shares of Solid Power Inc, valued at $237,075 using the latest closing price.
Buettner-Garrett Joshua, the Officer of Solid Power Inc, proposed sale 187,500 shares at $1.26 during a trade that took place back on Oct 07 ’24, which means that Buettner-Garrett Joshua is holding shares at $237,075 based on the most recent closing price.
Stock Fundamentals for SLDP
Current profitability levels for the company are sitting at:
- -5.06 for the present operating margin
- -0.23 for the gross margin
The net margin for Solid Power Inc stands at -3.93. The total capital return value is set at -0.21. Equity return is now at value -15.75, with -14.78 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 -6.86. The debt to equity ratio resting at 0.02. The interest coverage ratio of the stock is -670.11.
Currently, EBITDA for the company is -77.88 million with net debt to EBITDA at 0.27. When we switch over and look at the enterprise to sales, we see a ratio of 9.83. The receivables turnover for the company is 1.6for trailing twelve months and the total asset turnover is 0.04. The liquidity ratio also appears to be rather interesting for investors as it stands at 7.01.
Conclusion
In summary, Solid Power Inc (SLDP) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. 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.
