Ceres Power (OTCMKTS:CPWHF) Stock Price Up 5.3% – Still a Buy?

Ceres Power Holdings plc (OTCMKTS:CPWHF)’s stock price traded up 5.3% during mid-day trading on Wednesday . The stock traded as high as $3.30 and last traded at $3.30. 83,798 shares changed hands during mid-day trading, an increase of 105% from the average session volume of 40,799 shares. The stock had previously closed at $3.1350.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Panmure Gordon upgraded shares of Ceres Power to a “buy” rating in a research report on Friday, December 12th. The Goldman Sachs Group upgraded Ceres Power from a “neutral” rating to a “buy” rating in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ceres Power presently has an average rating of “Buy”.

Ceres Power Stock Performance

The stock has a fifty day simple moving average of $3.97 and a 200-day simple moving average of $2.59.

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.