Ceres Power (LON:CWR) Shares Down 9.9% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s share price fell 9.9% during mid-day trading on Monday . The company traded as low as GBX 356.67 and last traded at GBX 368.60. Approximately 3,076,029 shares changed hands during trading, a decline of 66% from the average daily volume of 9,161,410 shares. The stock had previously closed at GBX 409.20.

Analysts Set New Price Targets

A number of equities analysts have commented on CWR shares. Berenberg Bank lifted their price objective on shares of 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 set a GBX 920 target price on shares of Ceres Power in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Ceres Power presently has a consensus rating of “Buy” and a consensus price target of GBX 950.

Ceres Power Trading Up 5.2%

The company has a 50-day moving average price of GBX 403.29 and a two-hundred day moving average price of GBX 471.42. The stock has a market cap of £807.84 million, a P/E ratio of -15.41 and a beta of 3.00. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

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.