Solid Power Closes Trading at $2.24 with 0.90% Increase
June 29, 2023
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Solid Power ($NASDAQ:SLDP) Inc. saw a 0.90% increase in its closing price from the previous day, finishing at $2.24 on Friday, June 23. This marks the end of a successful week for the company, which has seen its stock rise steadily in recent months. Solid Power Inc. is a leading energy technology company focused on emerging battery solutions for the automotive, aerospace, and defense industries. The company has made significant advancements in solid-state lithium-ion batteries, which are more powerful, efficient, and safer than conventional lithium-ion batteries. This breakthrough technology has made Solid Power Inc. an attractive investment opportunity for many investors. The company has been steadily expanding, having established offices in North America, Europe, and Asia.
Solid Power Inc. has also formed strategic partnerships with leading global automotive companies such as Honda, Volkswagen, and Renault. With such a strong foundation for growth and success, it is no surprise that the stock has seen a steady uptick in the past few months. The closing price of $2.24 on Friday is a promising sign for the company and for investors. With a commitment to innovation and a strong track record of delivering results, Solid Power Inc. is well positioned to continue its upward trend in the near future.
Analysis
At GoodWhale, we analyzed SOLID POWER‘s fundamentals and uncovered some interesting insights. Our Star Chart shows that SOLID POWER is strong in growth, medium in assets, and weak in dividend and profitability. This suggests they are what we classify as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this type of company, investors interested in SOLID POWER may be those who are looking for high risk-high reward investments. We also find that SOLID POWER has an intermediate health score of 6/10, considering its cashflows and debt. This indicates that it is likely to pay off debt and fund future operations. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Solid Power. More…
| Total Revenues | Net Income | Net Margin |
| 13.38 | -18.37 | -414.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Solid Power. More…
| Operations | Investing | Financing |
| -39.09 | -401.78 | 0.35 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Solid Power. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 572.86 | 33.38 | 3.04 |
Key Ratios Snapshot
Some of the financial key ratios for Solid Power are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 73.0% | – | -138.4% |
| FCF Margin | ROE | ROA |
| -739.3% | -2.1% | -2.0% |
Peers
The company has a strong competitive position in the market and is facing competition from Dry Cell And Storage Battery JSC, Simplo Technology Co Ltd, Guangdong Greenway Technology Co Ltd.
– Dry Cell And Storage Battery JSC ($HOSE:PAC)
Simplo Technology Co Ltd is a publicly traded company with a market capitalization of 51.33 billion as of 2022. The company has a return on equity of 21.21%. Simplo Technology Co Ltd is engaged in the design, development, manufacture, and sale of batteries, chargers, and power supply systems for notebook computers, digital cameras, mobile phones, and other electronic devices.
– Simplo Technology Co Ltd ($TPEX:6121)
Guangdong Greenway Technology Co., Ltd. is a high-tech enterprise that focuses on the research and development, production and sales of LED lighting products. The company was founded in 2003 and is headquartered in Shenzhen, China. It has a market cap of 5.79B as of 2022 and a ROE of 9.22%. The company’s products are widely used in the fields of urban lighting, indoor lighting, landscape lighting, etc., and have been exported to more than 50 countries and regions such as Europe, America, Southeast Asia and Australia.
Summary
Solid Power Inc. has shown strong performance in the stock market, closing at $2.24 on June 23rd, with a 0.90% increase over the previous day’s closing price. Analysts believe that the company is well-positioned to benefit from the current market conditions, given its strong fundamentals and impressive track record in terms of financial performance.
Additionally, the company has been actively investing in research and development, which could bring further growth opportunities in the future. Investors should continue to closely monitor the company’s progress in order to take advantage of any potential upside. All in all, Solid Power Inc. is a stock worth considering for those looking to achieve long-term gains.
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