Ceres Power (LON:CWR) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 464.44 and traded as low as GBX 360.20. Ceres Power shares last traded at GBX 362.60, with a volume of 3,406,341 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CWR. 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. Berenberg Bank upped their target price on Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of GBX 950.

Ceres Power Trading Up 12.4%

The company has a debt-to-equity ratio of 2.24, a current ratio of 3.27 and a quick ratio of 12.18. The firm has a market cap of £865.49 million, a price-to-earnings ratio of -16.51 and a beta of 3.00. The business’s 50-day moving average price is GBX 421.35 and its two-hundred day moving average price is GBX 464.93.

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.