Berenberg Bank Issues Pessimistic Forecast for Ceres Power (LON:CWR) Stock Price

Ceres Power (LON:CWR) had its price objective cut by Berenberg Bank from GBX 650 ($8.20) to GBX 340 ($4.29) in a report issued on Tuesday,London Stock Exchange reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s price target suggests a potential upside of 388.51% from the company’s current price.

Ceres Power Price Performance

Shares of 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 were exchanged, compared to its average volume of 1,419,902. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. Ceres Power has a fifty-two week low of GBX 68.05 ($0.86) and a fifty-two week high of GBX 312 ($3.94). The company has a market cap of £135.68 million, a price-to-earnings ratio of -3.37 and a beta of 1.60. The firm’s fifty day moving average is GBX 154.15 and its 200 day moving average is GBX 183.74.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the stock in a transaction on Thursday, November 28th. The stock was purchased at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,884.91). Also, insider Stuart Paynter purchased 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,544.03). Insiders own 40.29% of the company’s stock.

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.