Ceres Power (LON:CWR) Trading Down 0.7% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares dropped 0.7% during mid-day trading on Wednesday . The company traded as low as GBX 343 and last traded at GBX 360. 1,673,714 shares traded hands during trading, a decline of 82% from the average daily volume of 9,385,254 shares. The stock had previously closed at GBX 362.60.

Analyst Ratings Changes

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

Ceres Power Stock Down 0.7%

The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24. The stock has a market cap of £769.70 million, a P/E ratio of -14.68 and a beta of 3.00. The company’s 50 day moving average price is GBX 425.54 and its two-hundred day moving average price is GBX 464.44.

About Ceres Power

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.