Ceres Power (LON:CWR) Earns Buy Rating from Berenberg Bank

Ceres Power (LON:CWR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Berenberg Bank in a report issued on Wednesday,Digital Look reports. They currently have a GBX 650 ($8.09) target price on the stock. Berenberg Bank’s target price suggests a potential upside of 366.31% from the company’s current price.

Ceres Power Stock Performance

LON:CWR traded down GBX 0.31 ($0.00) during mid-day trading on Wednesday, hitting GBX 139.39 ($1.73). 8,353,926 shares of the stock were exchanged, compared to its average volume of 1,568,277. The firm’s 50-day simple moving average is GBX 166.74 and its 200 day simple moving average is GBX 193.05. The stock has a market capitalization of £269.81 million, a price-to-earnings ratio of -663.77 and a beta of 1.60. Ceres Power has a fifty-two week low of GBX 126.40 ($1.57) and a fifty-two week high of GBX 312 ($3.88). The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Activity at Ceres Power

In related news, insider Dame Julia King bought 30,200 shares of the business’s stock in a transaction dated Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.05) per share, for a total transaction of £49,830 ($62,000.75). 40.29% of the stock is currently owned by corporate insiders.

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.