Ceres Power (OTCMKTS:CPWHF) Stock Price Down 6.4% – Here’s Why

Ceres Power Holdings plc (OTCMKTS:CPWHF) fell 6.4% during trading on Thursday . The stock traded as low as $5.43 and last traded at $5.43. 1,689 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 17,016 shares. The stock had previously closed at $5.80.

Analyst Upgrades and Downgrades

Separately, Panmure Gordon downgraded Ceres Power from a “buy” rating to a “sell” rating in a research report on Thursday, June 4th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Ceres Power Price Performance

The firm’s 50 day moving average price is $6.07 and its 200-day moving average price is $6.14.

Ceres Power Company Profile

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.