Ceres Power (LON:CWR) Trading Down 7% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) traded down 7% during mid-day trading on Friday . The stock traded as low as GBX 417 and last traded at GBX 438.80. 3,390,238 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 9,644,896 shares. The stock had previously closed at GBX 471.80.

Analysts Set New Price Targets

CWR has been the subject of a number of recent research reports. Berenberg Bank increased their price objective on Ceres Power from GBX 530 to GBX 980 and gave the stock a “buy” rating in a research report on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 920 target price 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, the company presently has an average rating of “Buy” and an average price target of GBX 950.

Ceres Power Stock Down 7.0%

The stock has a market capitalization of £938.18 million, a PE ratio of -17.90 and a beta of 3.00. The firm’s fifty day moving average is GBX 472.57 and its 200-day moving average is GBX 454.63. The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24.

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.