Solid Power Inc [NASDAQ: SLDP] traded at a high on Monday, posting a 18.49 gain after which it closed the day’ session at $1.73. The company report on January 23, 2024 at 8:00 AM that Solid Power Announces $50 Million Share Repurchase Authorization.
“This program is a reflection of our strong cash position and commitment to creating shareholder value,” said John Van Scoter, President and Chief Executive Officer of Solid Power, Inc. “It is driven by our view that Solid Power’s shares are undervalued and demonstrates confidence in our progress. We believe that with our unique capital-light business model, we can opportunistically buy back shares while continuing to drive technology development.”.
The results of the trading session contributed to over 9264986 shares changing hands. Over the past one week, the price volatility of Solid Power Inc stands at 16.71% while the volatility over the past one month is 10.60%.
The market cap for SLDP stock reached $308.70 million, with 176.01 million shares outstanding and 131.70 million shares in the current float. Compared to the average trading volume of 3.33M shares, SLDP reached a trading volume of 9264986 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Solid Power Inc [SLDP]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SLDP shares is $3.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SLDP stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wolfe Research have made an estimate for Solid Power Inc shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on June 08, 2023.
The Average True Range (ATR) for Solid Power Inc is set at 0.15, with the Price to Sales ratio for SLDP stock in the period of the last 12 months amounting to 16.03. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 1.08.
How has SLDP stock performed recently?
Solid Power Inc [SLDP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 47.86. With this latest performance, SLDP shares gained by 18.49% in over the last four-week period, additionally sinking by -36.86% over the last 6 months – not to mention a drop of -44.55% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SLDP stock in for the last two-week period is set at 64.88, with the RSI for the last a single of trading hit 71.40, and the three-weeks RSI is set at 60.41 for Solid Power Inc [SLDP]. The present Moving Average for the last 50 days of trading for this stock 1.3889, while it was recorded at 1.4850 for the last single week of trading, and 1.9624 for the last 200 days.
Solid Power Inc [SLDP]: Deeper insight into the fundamentals
Solid Power Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 17.12 and a Current Ratio set at 17.12.
Earnings analysis for Solid Power Inc [SLDP]
With the latest financial reports released by the company, Solid Power Inc posted 0/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SLDP.
Insider trade positions for Solid Power Inc [SLDP]
The top three institutional holders of SLDP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SLDP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SLDP stock with ownership which is approximately 5.8325%.
