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

Posted by on Jun 15th, 2023

Ceres Power (LON:CWR – Get Rating)‘s stock had its “buy” rating reiterated by investment analysts at Berenberg Bank in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a GBX 1,155 ($14.45) price objective on the stock. Berenberg Bank’s price objective would indicate a potential upside of 246.02% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Peel Hunt reaffirmed a “buy” rating and set a GBX 650 ($8.13) target price on shares of Ceres Power in a research report on Tuesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a GBX 600 ($7.51) target price on shares of Ceres Power in a research report on Monday, May 22nd.

Ceres Power Trading Up 9.2 %

CWR opened at GBX 333.80 ($4.18) on Tuesday. The firm has a market capitalization of £643.20 million, a PE ratio of -1,390.83 and a beta of 1.43. The company has a debt-to-equity ratio of 1.32, a current ratio of 10.77 and a quick ratio of 12.18. Ceres Power has a fifty-two week low of GBX 276.84 ($3.46) and a fifty-two week high of GBX 732.80 ($9.17). The company’s 50-day moving average is GBX 329.71 and its 200 day moving average is GBX 373.88.

Insider Buying and Selling

In other Ceres Power news, insider Eric Lakin purchased 6,187 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The shares were acquired at an average cost of GBX 323 ($4.04) per share, for a total transaction of £19,984.01 ($25,005.02). 38.08% of the stock is currently owned by corporate insiders.

Ceres Power Company Profile

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Ceres Power Holdings plc, a fuel cell technology and engineering company, engages in the development and commercialization of fuel cell technology in North America, Asia, and Europe. The company offers SteelCell, a solid oxide fuel cell that generates power from conventional and sustainable fuels, such as natural gas, biogas, ethanol, and hydrogen.

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