Ceres Power (LON:CWR) Price Target Lowered to GBX 340 at Berenberg Bank

Ceres Power (LON:CWR) had its target price cut by Berenberg Bank from GBX 650 ($8.24) to GBX 340 ($4.31) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Ceres Power Trading Down 5.2 %

CWR opened at GBX 69.60 ($0.88) on Tuesday. Ceres Power has a 12 month low of GBX 68.05 ($0.86) and a 12 month high of GBX 312 ($3.95). The stock has a market capitalization of £135.68 million, a price-to-earnings ratio of -3.37 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The business has a fifty day moving average price of GBX 152.16 and a 200 day moving average price of GBX 182.91.

Insider Buying and Selling

In other Ceres Power news, insider Dame Julia King purchased 30,200 shares of the firm’s stock in a transaction on Thursday, November 28th. The stock was bought at an average cost of GBX 165 ($2.09) per share, with a total value of £49,830 ($63,155.89). Also, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,598.09). 40.29% of the stock is currently owned by insiders.

About Ceres Power

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.