Ceres Power Holdings plc (LON:CWR – Get Free Report)’s stock price traded down 8.5% during trading on Wednesday . The stock traded as low as GBX 580 and last traded at GBX 595.50. 89,363,672 shares changed hands during trading, an increase of 969% from the average session volume of 8,357,511 shares. The stock had previously closed at GBX 650.50.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Berenberg Bank reissued a “buy” rating and set a GBX 530 price objective on shares of Ceres Power in a research note on Thursday, March 26th. Jefferies Financial Group boosted their price objective on shares of Ceres Power from GBX 480 to GBX 920 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 725.
Ceres Power Stock Down 8.5%
Ceres Power (LON:CWR – Get Free Report) last announced its quarterly earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. As a group, equities analysts predict that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal year.
Insider Buying and Selling at Ceres Power
In related news, insider Philip Caldwell sold 456,940 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total transaction of £2,842,166.80. 8.03% of the stock is owned by company insiders.
Ceres Power Company Profile
Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.
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