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

Ceres Power (LON:CWR) had its target price decreased by equities research analysts at Berenberg Bank from GBX 650 ($8.24) to GBX 340 ($4.31) in a research report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price target indicates a potential upside of 378.87% from the company’s current price.

Ceres Power Stock Performance

LON CWR opened at GBX 71 ($0.90) on Tuesday. The business’s 50-day moving average price is GBX 150.06 and its 200 day moving average price is GBX 182.13. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The firm has a market cap of £138.41 million, a P/E ratio of -3.43 and a beta of 1.60. Ceres Power has a 52-week low of GBX 68 ($0.86) and a 52-week high of GBX 312 ($3.96).

Insider Activity

In other news, insider Stuart Paynter purchased 7,151 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,606.07). Corporate 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.