Berenberg Bank Reiterates Buy Rating for Ceres Power (LON:CWR)

Berenberg Bank restated their buy rating on shares of Ceres Power (LON:CWR) in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a GBX 650 ($8.09) price objective on the stock.

Ceres Power Stock Performance

Shares of CWR opened at GBX 146.20 ($1.82) on Wednesday. The firm’s 50 day moving average price is GBX 166.23 and its two-hundred day moving average price is GBX 192.66. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. Ceres Power has a twelve month low of GBX 126.40 ($1.57) and a twelve month high of GBX 312 ($3.88). The firm has a market cap of £282.98 million, a P/E ratio of -696.19 and a beta of 1.60.

Insider Buying and Selling

In other news, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction on Thursday, November 28th. The stock was purchased at an average price of GBX 165 ($2.05) per share, with a total value of £49,830 ($62,039.34). Company insiders own 40.29% of the company’s stock.

About Ceres Power

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.