Ceres Power (OTCMKTS:CPWHF) Shares Down 8.6% – Here’s Why

Ceres Power Holdings plc (OTCMKTS:CPWHF) was down 8.6% during mid-day trading on Thursday . The company traded as low as $5.35 and last traded at $5.35. Approximately 150,126 shares were traded during trading, an increase of 773% from the average session volume of 17,189 shares. The stock had previously closed at $5.8550.

Analyst Ratings Changes

Separately, Panmure Gordon downgraded Ceres Power from a “buy” rating to a “sell” rating in a report on Thursday, June 4th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ceres Power currently has an average rating of “Hold”.

Ceres Power Stock Up 6.4%

The firm’s fifty day moving average is $5.48 and its 200-day moving average is $6.28.

About Ceres Power

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.