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

Ceres Power (LON:CWR - Get Free Report) had its price target reduced by Berenberg Bank from GBX 650 ($8.24) to GBX 340 ($4.31) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's price objective suggests a potential upside of 388.51% from the stock's previous close.

Ceres Power Stock Performance

LON CWR traded down GBX 3.80 ($0.05) during trading hours on Tuesday, hitting GBX 69.60 ($0.88). 2,024,815 shares of the company's stock traded hands, compared to its average volume of 1,419,902. Ceres Power has a 52 week low of GBX 68.05 ($0.86) and a 52 week high of GBX 312 ($3.95). The firm has a market capitalization of £135.68 million, a P/E ratio of -3.37 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The business's fifty day moving average price is GBX 152.16 and its two-hundred day moving average price is GBX 182.91.

Insider Transactions at Ceres Power

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