Ceres Power (OTCMKTS:CPWHF) Stock Price Down 7.8% – Here’s Why

Ceres Power Holdings plc (OTCMKTS:CPWHF)’s stock price fell 7.8% on Tuesday . The company traded as low as $5.57 and last traded at $5.57. Approximately 475 shares traded hands during trading, a decline of 97% from the average session volume of 18,471 shares. The stock had previously closed at $6.0420.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CPWHF shares. Panmure Gordon lowered Ceres Power from a “buy” rating to a “sell” rating in a research note on Thursday, June 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Ceres Power in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Ceres Power Price Performance

The company has a 50-day simple moving average of $8.38 and a two-hundred day simple moving average of $5.85.

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.