Ceres Power (OTCMKTS:CPWHF) Stock Price Down 7.8% – What’s Next?
by Mitch Edgeman · The Markets DailyShares of Ceres Power Holdings plc (OTCMKTS:CPWHF – Get Free Report) fell 7.8% on Tuesday . The company traded as low as $5.57 and last traded at $5.57. Approximately 475 shares were traded during trading, a decline of 97% from the average session volume of 18,471 shares. The stock had previously closed at $6.0420.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Panmure Gordon lowered Ceres Power from a “buy” rating to a “sell” rating in a report on Thursday, June 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Ceres Power in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.
Get Our Latest Stock Analysis on CPWHF
Ceres Power Trading Down 7.8%
The business’s fifty day moving average price is $8.47 and its 200-day moving average price is $5.84.
About Ceres Power
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.