Ceres Power (LON:CWR) Trading Down 7% – Here’s What Happened

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. Approximately 3,390,238 shares were traded 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.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a GBX 920 price objective on shares of Ceres Power in a research note on Wednesday, June 10th. Berenberg Bank raised their price objective 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, Based on data from MarketBeat, Ceres Power has a consensus rating of “Buy” and an average price target of GBX 950.

Ceres Power Stock Down 7.0%

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 has a market capitalization of £938.18 million, a PE ratio of -17.90 and a beta of 3.00. The business has a fifty day moving average of GBX 477.30 and a 200 day moving average of GBX 454.75.

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.