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

Ceres Power (LON:CWR - Get Free Report) had its target price lowered by research analysts at Berenberg Bank from GBX 650 ($8.17) to GBX 340 ($4.28) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's price objective would suggest a potential upside of 360.70% from the stock's previous close.

Ceres Power Price Performance

Shares of LON CWR traded up GBX 3.75 ($0.05) during mid-day trading on Tuesday, hitting GBX 73.80 ($0.93). 1,983,640 shares of the stock were exchanged, compared to its average volume of 1,496,819. The company has a market cap of £143.86 million, a P/E ratio of -3.57 and a beta of 1.60. The stock's fifty day simple moving average is GBX 146.31 and its two-hundred day simple moving average is GBX 180.52. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. Ceres Power has a twelve month low of GBX 66.35 ($0.83) and a twelve month high of GBX 312 ($3.92).

Insider Activity at Ceres Power

In related news, insider Stuart Paynter purchased 7,151 shares of the 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 ($12,499.86). 40.29% of the stock is currently owned by company 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.