Chris Pierce, an analyst from Needham, reiterated the Buy rating on Solid Power. The associated price target is $4.00.
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Chris Pierce has given his Buy rating due to a combination of factors including the promising outlook for Solid Power’s solid-state battery technology. The company is making notable progress in its cell and electrolyte partnerships, which enhances the potential value of its shares. Furthermore, Solid Power’s substantial cash reserves relative to its expenditure rate position it well to endure challenges in the U.S. electric vehicle market.
Additionally, the updated price target of $4 reflects a positive adjustment based on expected future earnings, with a projected increase in market share for all-solid-state batteries in electric vehicles. The financial model anticipates Solid Power raising significant capital in the coming years, further supporting its growth strategy. These elements collectively contribute to the Buy rating, indicating confidence in the company’s future performance.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SLDP in relation to earlier this year.