Ceres Power (OTCMKTS:CPWHF) Shares Down 3.5% – Time to Sell?

Ceres Power Holdings plc (OTCMKTS:CPWHF)’s share price was down 3.5% during mid-day trading on Thursday . The stock traded as low as $4.10 and last traded at $4.13. Approximately 9,759 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 31,682 shares. The stock had previously closed at $4.28.

Wall Street Analyst Weigh In

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

Ceres Power Trading Down 3.5%

The stock has a fifty day simple moving average of $3.80 and a 200-day simple moving average of $2.90.

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.