Wolfe Research slashes price target on Solid Power Inc [SLDP] – find out why.

Solid Power Inc [NASDAQ: SLDP] closed the trading session at $1.92. The company report on February 27, 2024 at 4:05 PM that Solid Power Full Year 2023 Results Reflect Strong Execution.

Business, operational, and financial update call scheduled for 4:30 p.m. ET today.

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The stocks have a year to date performance of 32.41 percent and weekly performance of 26.32 percent. The stock has been moved at 2.13 percent over the last six months. The stock has performed 10.98 percent around the most recent 30 days and changed 25.49 percent over the most recent 3-months.

If compared to the average trading volume of 3.80M shares, SLDP reached to a volume of 7830640 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. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on March 08, 2023, representing the official price target for Solid Power Inc stock. Previously, the target price had yet another raise to $3, while Citigroup analysts kept a Neutral rating on SLDP stock.

The Average True Range (ATR) for Solid Power Inc is set at 0.14, with the Price to Sales ratio for SLDP stock in the period of the last 12 months amounting to 19.97. The Price to Book ratio for the last quarter was 0.68, with the Price to Cash per share for the same quarter was set at 0.97.

SLDP stock trade performance evaluation

Solid Power Inc [SLDP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 26.32. With this latest performance, SLDP shares gained by 10.98% in over the last four-week period, additionally plugging by 2.13% over the last 6 months – not to mention a drop of -30.94% 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 69.86, with the RSI for the last a single of trading hit 79.28, and the three-weeks RSI is set at 63.93 for Solid Power Inc [SLDP]. The present Moving Average for the last 50 days of trading for this stock 1.5501, while it was recorded at 1.6660 for the last single week of trading, and 1.8367 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 11.53 and a Current Ratio set at 11.53.

Earnings per share (EPS) analysis for Solid Power Inc [SLDP] stock

With the latest financial reports released by the company, Solid Power Inc posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. 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%.