Solid Power Inc. (SLDP) receives an Underperform rating from Wolfe Research

Solid Power Inc.’s filing revealed that its Director ANDERSON ERIK J unloaded Company’s shares for reported $3992.0 on May 25. In the deal valued at $2.10 per share,1,901 shares were sold. As a result of this transaction, ANDERSON ERIK J now holds 693,900 shares worth roughly $ 1.52 million.

Then, STEPHENS JOHN JOSEPH bought 214,500 shares, generating $626,126 in total proceeds. Upon buying the shares at $2.92, the Director now owns 300,005 shares.

Wolfe Research downgraded its Solid Power Inc. [SLDP] rating to an Underperform from a a Peer perform in a research note published on Friday. PT values the company’s stock at a premium of -9.5 to its Friday closing price.

Price Performance Review of SLDP

On Friday, Solid Power Inc. [NASDAQ:SLDP] saw its stock jump 3.30% to $2.19. On the same session, the stock had its day’s lowest price of $2.12, but rose to a high of $2.195. Over the last five days, the stock has gained 3.79%. Solid Power Inc. shares have fallen nearly -13.78% since the year began. Nevertheless, the stocks have fallen -66.72% over the past one year. While a 52-week high of $6.92 was reached on 02/02/23, a 52-week low of $1.83 was recorded on 05/17/23. SMA at 50 days reached $2.49, while 200 days put it at $2.72. A total of 1.01 million shares were traded, compared to the trading of 2.02 million shares in the previous session.

Levels Of Support And Resistance For SLDP Stock

The 24-hour chart illustrates a support level at 2.14, which if violated will result in even more drops to 2.09. On the upside, there is a resistance level at 2.22. A further resistance level may holdings at 2.24. The Relative Strength Index (RSI) on the 14-day chart is 44.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 44.01%. Stochastics %K at 41.13% indicates the stock is a holding.

How much short interest is there in Solid Power Inc.?

A steep rise in short interest was recorded in Solid Power Inc. stocks on Aug 14, 2023, growing by 30000.0 shares to a total of 9.28 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 9.25 million shares. There was a rise of 0.32%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.26% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.66.

Solid Power Inc. [SLDP] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 9,932,590 shares, or roughly 5.59% of the outstanding SLDP shares. In other words, the investor’s shares have risen by 1,834,790 from its previous 13-F filing of 8097800.0. Additionally, The Vanguard Group, Inc. increased 5.54% of its stake after which the total value it holdings stand at $16,499,311, while Invesco Capital Management LLC added 24.76% of its stake to hold $12.86 million in the firm. Over the last quarter, Geode Capital Management LLC purchased 373,395 shares of Solid Power Inc., while SSgA Funds Management, Inc. bought 245,693 shares. At present, Citadel Advisors LLC is holding 1,422,979 shares valued at $4.07 million. Northern Trust Investments, Inc. owned 1,217,897 shares of the company at the time of its most recent 13F filing, worth $3.48 million.

According to FactSet, Solid Power Inc.’s share price will average $3.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 65.09 percent from its previous closing price of $2.12. Analysts expect Solid Power Inc. stock to reach the higher price of $5.00, while the lowest price estimate is $2.00. However, 6 analysts have rated SLDP stock as a Hold in their predictions for 2023.