Ceres Power (OTCMKTS:CPWHF) Stock Price Down 3.6% – What’s Next?

Shares of Ceres Power Holdings plc (OTCMKTS:CPWHF) were down 3.6% during mid-day trading on Monday . The company traded as low as $3.9180 and last traded at $3.9250. Approximately 6,050 shares traded hands during trading, a decline of 71% from the average daily volume of 20,987 shares. The stock had previously closed at $4.07.

Analysts Set New Price Targets

Separately, Panmure Gordon raised Ceres Power to a “buy” rating in a report on Friday, December 12th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Ceres Power currently has an average rating of “Buy”.

Ceres Power Price Performance

The stock’s 50 day moving average price is $3.72 and its 200-day moving average price is $3.22.

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.