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

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

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Down 7.0%

The company has a market cap of £938.18 million, a PE ratio of -17.90 and a beta of 3.00. The company has a debt-to-equity ratio of 2.24, a current ratio of 3.27 and a quick ratio of 12.18. The firm has a 50-day simple moving average of GBX 477.30 and a two-hundred day simple moving average of GBX 454.75.

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.