Ceres Power (OTCMKTS:CPWHF) Trading Down 6.8% – Here’s Why

Ceres Power Holdings plc (OTCMKTS:CPWHF) shares fell 6.8% on Tuesday . The company traded as low as $8.0250 and last traded at $8.18. 13,872 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 19,452 shares. The stock had previously closed at $8.78.

Analysts Set New Price Targets

CPWHF has been the subject of several research reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Ceres Power in a report on Wednesday, April 15th. Panmure Gordon lowered Ceres Power from a “buy” rating to a “sell” rating in a report on Thursday, June 4th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Ceres Power Trading Down 6.8%

The company’s 50 day simple moving average is $8.48 and its 200-day simple moving average is $5.53.

Ceres Power Company Profile

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.