Ceres Power (LON:CWR) Trading Down 9.9% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) was down 9.9% during trading on Monday . The company traded as low as GBX 356.67 and last traded at GBX 368.60. 3,076,029 shares changed hands during trading, a decline of 66% from the average session volume of 9,161,410 shares. The stock had previously closed at GBX 409.20.

Wall Street Analysts Forecast Growth

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

Ceres Power Trading Down 9.9%

The firm has a 50-day simple moving average of GBX 408.82 and a 200-day simple moving average of GBX 470.51. The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24. The stock has a market cap of £788.17 million, a PE ratio of -15.03 and a beta of 3.00.

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.