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

Ceres Power (LON:CWR) had its price target decreased by Berenberg Bank from GBX 650 ($8.19) to GBX 340 ($4.29) in a research report released on Tuesday, MarketBeat reports. Berenberg Bank currently has a buy rating on the stock.

Ceres Power Price Performance

Shares of CWR stock opened at GBX 70.05 ($0.88) on Tuesday. The firm has a fifty day simple moving average of GBX 148.13 and a 200-day simple moving average of GBX 181.35. 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 company has a market capitalization of £136.55 million, a PE ratio of -3.39 and a beta of 1.60. Ceres Power has a twelve month low of GBX 68 ($0.86) and a twelve month high of GBX 312 ($3.93).

Insiders Place Their Bets

In related news, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,528.22). 40.29% of the stock is owned by 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.