Ceres Power (OTCMKTS:CPWHF) Stock Price Down 6.4% – What’s Next?

Ceres Power Holdings plc (OTCMKTS:CPWHF)’s share price dropped 6.4% during trading on Thursday . The stock traded as low as $5.43 and last traded at $5.43. 1,689 shares changed hands during trading, a decline of 90% from the average daily volume of 17,016 shares. The stock had previously closed at $5.80.

Wall Street Analyst Weigh In

Separately, Panmure Gordon downgraded Ceres Power from a “buy” rating to a “sell” rating in a report on Thursday, June 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Ceres Power Stock Performance

The business has a 50 day moving average of $6.02 and a two-hundred day moving average of $6.14.

Ceres Power Company Profile

Ceres Power plc (OTCMKTS: CPWHF) is a UK-based clean energy technology company focused on the development and licensing of solid oxide fuel cell (SOFC) technology. The company’s core business activity centers on its proprietary SteelCell® platform, a nickel-ceramic fuel cell design that can operate on a variety of fuels including natural gas, hydrogen and biogas. Ceres Power pursues a technology licensing model, partnering with manufacturing and energy firms to integrate its fuel cells into distributed power generation systems, residential combined heat and power (CHP) units and commercial backup power solutions.

Since its founding as an Imperial College London spin-out in 2001, Ceres Power has built a global network of strategic partnerships to scale its technology.