Ceres Power (LON:CWR) Shares Down 0.7% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) fell 0.7% during mid-day trading on Wednesday . The company traded as low as GBX 343 and last traded at GBX 360. Approximately 1,673,714 shares were traded 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

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

Ceres Power Stock Performance

The stock has a market capitalization of £769.70 million, a PE ratio of -14.68 and a beta of 3.00. The business’s 50 day moving average is GBX 425.54 and its 200 day moving average is GBX 464.44. 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.