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Solid Power Inc. (NASDAQ: SLDP) Is A Safe Investment Now, Isn’t It?

Solid Power Inc. (NASDAQ:SLDP) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -4.37% to the previous day’s close as strong demand from buyers drove the stock to $2.19.

Actively observing the price movement in the last trading, the stock closed the session at $2.29, falling within a range of $2.17 and $2.29. The value of beta (5-year monthly) was 1.53. Referring to stock’s 52-week performance, its high was $9.40, and the low was $1.83. On the whole, SLDP has fluctuated by -3.52% over the past month.

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With the market capitalization of Solid Power Inc. currently standing at about $397.66 million, investors are eagerly awaiting this quarter’s results, scheduled for Aug 07, 2023 – Aug 11, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.11, which is expected to increase to -$0.11 for fiscal year -$0.46 and then to about -$0.46 by fiscal year 2024.

Analysts have estimated the company’s revenue for the quarter at $4.12 million, with a low estimate of $3.4 million and a high estimate of $4.6 million. According to the average forecast, sales growth in current quarter could jump up 59.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $16.93 million, representing an increase of 43.60% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SLDP’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SLDP currently trading nearly 4.62% and -11.17% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.23, while the 7-day volatility ratio is showing 8.78% which for the 30-day chart, stands at 6.92%. Furthermore, Solid Power Inc. (SLDP)’s average true range (ATR) is 0.16.

Data on historical trading for Solid Power Inc. (NASDAQ:SLDP) indicates that the trading volumes over the past 10 days have averaged 2.6 million and over the past 3 months, they’ve averaged 2.19 million. According to company’s latest data on outstanding shares, there are 176.93 million shares outstanding.

Nearly 5.60% of Solid Power Inc.’s shares belong to company insiders and institutional investors own 30.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 9.1 million shares as on Apr 27, 2023, resulting in a short ratio of 6.44. According to the data, the short interest in Solid Power Inc. (SLDP) stood at 5.13% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 9.7 million. The stock has fallen by -13.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SLDP stock heading into the next quarter.

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