BlackRock Fund Advisors recently announced the acquisition of new stake in Solid Power Inc (NASDAQ:SLDP). The institutional investor has increased its shareholding in the Industrials company by 0.36% to 9.97 million shares with purchase of 35300.0 shares. This fresh investment now brings its stake to 5.59% valued currently at $14.45 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.14 million to 5.91 million shares. And Geode Capital Management LLC has lifted its position by 7.77% or 0.21 million shares – to 2.97 million shares.
Currently, there are 176.01M common shares owned by the public and among those 131.70M shares have been available to trade.
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The top 3 mutual fund holders in Solid Power Inc are Invesco WilderHill Clean Energy E, iShares Russell 2000 ETF, and Vanguard Total Stock Market ETF. Invesco WilderHill Clean Energy E owns 4.71 million shares of the company’s stock, all valued at over $6.83 million. iShares Russell 2000 ETF sold 10746.0 shares to see its total holdings shrink to 4.06 million shares valued at over $5.89 million and representing 2.28% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 1.79% of the shares outstanding.
However, the script later moved the day high at 1.7500, up 18.49%. The company’s stock has a 5-day price change of 47.86% and 24.46% over the past three months. SLDP shares are trading 19.31% year to date (YTD), with the 12-month market performance down to -44.55% lower. It has a 12-month low price of $1.10 and touched a high of $3.86 over the same period. SLDP has an average intraday trading volume of 3.33 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 29.81%, 24.81%, and -12.06% respectively.
Institutional ownership of Solid Power Inc (NASDAQ: SLDP) shares accounts for 23.64% of the company’s 176.01M shares outstanding. Mutual fund holders own 27.68%, while other institutional holders and individual stakeholders account for 9.79% and 13.89% respectively.
It has a market capitalization of $308.70M and a beta (3y monthly) value of 1.71. The earnings-per-share (ttm) stands at -$0.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.71% over the week and 10.60% over the month.
Analysts forecast that Solid Power Inc (SLDP) will achieve an EPS of -$0.12 for the current quarter, -$0.09 for the next quarter and -$0.44 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of -$0.11. Comparatively, EPS for the current quarter was $0 a year ago. Earnings per share for the fiscal year are expected to decrease by -668.00%, and -14.58% over the next financial year.
Looking at the support for the SLDP, a number of firms have released research notes about the stock. Wolfe Research stated their Underperform rating for the stock in a research note on June 08, 2023, with the firm’s price target at $2.
