Ceres Power (LON:CWR) Stock Price Down 9.9% – Time to Sell?

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

Wall Street Analyst Weigh In

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

Ceres Power Trading Down 9.9%

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

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.