Ceres Power (LON:CWR) Stock Price Down 0.7% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) fell 0.7% during trading on Wednesday . The stock traded as low as GBX 343 and last traded at GBX 360. Approximately 1,673,714 shares changed hands during trading, a decline of 82% from the average daily volume of 9,385,254 shares. The stock had previously closed at GBX 362.60.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 920 price target on shares of Ceres Power in a research note on Wednesday, June 10th. Berenberg Bank raised their price objective on shares of Ceres Power from GBX 530 to GBX 980 and gave the stock a “buy” rating in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 950.

Ceres Power Stock Down 1.0%

The company has a debt-to-equity ratio of 2.24, a quick ratio of 12.18 and a current ratio of 3.27. The stock has a market cap of £856.71 million, a P/E ratio of -16.34 and a beta of 3.00. The stock’s fifty day simple moving average is GBX 419.26 and its 200-day simple moving average is GBX 465.68.

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.