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

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

Ceres Power Stock Down 1.3 %

CWR stock opened at GBX 70.05 ($0.88) on Tuesday. Ceres Power has a 52-week low of GBX 68 ($0.86) and a 52-week high of GBX 312 ($3.93). The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a market capitalization of £136.55 million, a price-to-earnings ratio of -3.39 and a beta of 1.60. The company has a 50-day moving average of GBX 148.13 and a two-hundred day moving average of GBX 181.35.

Insiders Place Their Bets

In related news, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average cost of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,528.22). Corporate insiders own 40.29% of the company’s stock.

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.