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Ceres Power (LON:CWR) Shares Pass Below 200-Day Moving Average - Here's Why

Ceres Power logo with Industrials background

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 112.44 ($1.51) and traded as low as GBX 67.70 ($0.91). Ceres Power shares last traded at GBX 68.95 ($0.93), with a volume of 418,887 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank dropped their price objective on Ceres Power from GBX 650 ($8.75) to GBX 340 ($4.57) and set a "buy" rating on the stock in a report on Tuesday, February 25th.

Read Our Latest Report on CWR

Ceres Power Trading Up 5.5%

The stock has a market cap of £141.82 million, a PE ratio of -3.52 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm has a fifty day simple moving average of GBX 61.96 and a two-hundred day simple moving average of GBX 111.78.

Insider Activity

In other Ceres Power news, insider Stuart Paynter purchased 33,166 shares of the company's stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of GBX 60 ($0.81) per share, for a total transaction of £19,899.60 ($26,775.57). Corporate insiders own 40.29% of the company's stock.

About Ceres Power

(Get Free Report)

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.

See Also

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