Ceres Power (LON:CWR) Price Target Cut to GBX 340 by Analysts at Berenberg Bank

Ceres Power (LON:CWR) had its price target decreased by Berenberg Bank from GBX 650 ($8.20) to GBX 340 ($4.29) in a note issued to investors on Tuesday,London Stock Exchange reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price target would indicate a potential upside of 388.51% from the stock’s current price.

Ceres Power Trading Down 5.2 %

Shares of LON CWR traded down GBX 3.80 ($0.05) during midday trading on Tuesday, reaching GBX 69.60 ($0.88). The stock had a trading volume of 2,024,815 shares, compared to its average volume of 1,419,902. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The firm has a market cap of £135.68 million, a price-to-earnings ratio of -3.37 and a beta of 1.60. The company’s 50 day moving average price is GBX 154.15 and its 200 day moving average price is GBX 183.74. Ceres Power has a twelve month low of GBX 68.05 ($0.86) and a twelve month high of GBX 312 ($3.94).

Insider Activity

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,544.03). Also, insider Dame Julia King acquired 30,200 shares of the stock in a transaction dated Thursday, November 28th. The stock was bought at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,884.91). 40.29% of the stock is owned by company insiders.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel
cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres’ solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.