Ceres Power (OTCMKTS:CPWHF) Stock Price Down 6.8% – Here’s Why

Ceres Power Holdings plc (OTCMKTS:CPWHF) fell 6.8% on Tuesday . The stock traded as low as $8.0250 and last traded at $8.18. 13,872 shares changed hands during trading, a decline of 29% from the average session volume of 19,452 shares. The stock had previously closed at $8.78.

Wall Street Analysts Forecast Growth

CPWHF has been the subject of several recent analyst reports. Panmure Gordon cut Ceres Power from a “buy” rating to a “sell” rating in a report on Thursday, June 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Ceres Power in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ceres Power currently has a consensus rating of “Hold”.

Ceres Power Stock Down 6.8%

The business has a fifty day moving average price of $8.48 and a 200 day moving average price of $5.53.

Ceres Power Company Profile

Ceres Power plc (OTCMKTS: CPWHF) is a UK-based clean energy technology company focused on the development and licensing of solid oxide fuel cell (SOFC) technology. The company’s core business activity centers on its proprietary SteelCell® platform, a nickel-ceramic fuel cell design that can operate on a variety of fuels including natural gas, hydrogen and biogas. Ceres Power pursues a technology licensing model, partnering with manufacturing and energy firms to integrate its fuel cells into distributed power generation systems, residential combined heat and power (CHP) units and commercial backup power solutions.

Since its founding as an Imperial College London spin-out in 2001, Ceres Power has built a global network of strategic partnerships to scale its technology.