Solid Power Inc [NASDAQ: SLDP] closed the trading session at $1.60. 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 stocks have a year to date performance of 10.34 percent and weekly performance of -10.11 percent. The stock has been moved at -39.85 percent over the last six months. The stock has performed 15.94 percent around the most recent 30 days and changed 10.34 percent over the most recent 3-months.
If compared to the average trading volume of 3.75M shares, SLDP reached to a volume of 2936608 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 0.16, with the Price to Sales ratio for SLDP stock in the period of the last 12 months amounting to 14.82. The Price to Book ratio for the last quarter was 0.55, with the Price to Cash per share for the same quarter was set at 1.08.
SLDP stock trade performance evaluation
Solid Power Inc [SLDP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.11. With this latest performance, SLDP shares gained by 15.94% in over the last four-week period, additionally sinking by -39.85% over the last 6 months – not to mention a drop of -52.94% 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 54.41, with the RSI for the last a single of trading hit 54.23, and the three-weeks RSI is set at 53.68 for Solid Power Inc [SLDP]. The present Moving Average for the last 50 days of trading for this stock 1.4162, while it was recorded at 1.6090 for the last single week of trading, and 1.9284 for the last 200 days.
Solid Power Inc [SLDP]: An insightful look at the core 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 per share (EPS) analysis for Solid Power Inc [SLDP] stock
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.
Solid Power Inc [SLDP]: Institutional Ownership
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%.
