Ceres Power (LON:CWR) Shares Down 13.9% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price was down 13.9% during trading on Tuesday . The company traded as low as GBX 316.20 and last traded at GBX 316.80. Approximately 4,373,837 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 10,267,197 shares. The stock had previously closed at GBX 367.80.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Berenberg Bank increased their price target on Ceres Power from GBX 530 to GBX 980 and gave the stock a “buy” rating in a report on Friday, May 29th. Jefferies Financial Group restated a “buy” rating and set a GBX 920 price objective on shares of Ceres Power in a report on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 950.

Ceres Power Stock Performance

The firm has a market cap of £742.31 million, a P/E ratio of -14.16 and a beta of 3.24. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24. The company’s 50-day moving average is GBX 559.84 and its two-hundred day moving average is GBX 446.44.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.