Ceres Power (LON:CWR) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 458.36 and traded as low as GBX 393.20. Ceres Power shares last traded at GBX 407, with a volume of 1,362,219 shares.

Analysts Set New Price Targets

CWR has been the subject of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a GBX 920 target price on shares of Ceres Power in a research note on Wednesday, June 10th. Berenberg Bank lifted their price target on Ceres Power from GBX 530 to GBX 980 and gave the stock a “buy” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ceres Power has a consensus rating of “Buy” and an average price target of GBX 950.

Ceres Power Trading Up 1.5%

The company has a market cap of £870.19 million, a price-to-earnings ratio of -16.60 and a beta of 3.00. 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 business’s 50 day moving average price is GBX 454.64 and its 200-day moving average price is GBX 458.36.

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.