Ceres Power (LON:CWR) Trading Down 38.5% – Here’s Why

Ceres Power Holdings plc (LON:CWR) fell 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 8,976,891 shares changed hands during mid-day trading, an increase of 577% from the average session volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.24) price objective on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Stock Down 38.5 %

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The business has a 50-day moving average of GBX 157.82 and a 200 day moving average of GBX 185.60. The company has a market capitalization of £157.02 million, a PE ratio of -3.89 and a beta of 1.60.

Insider Activity at Ceres Power

In other news, insider Stuart Paynter purchased 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,594.89). Also, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction dated Thursday, November 28th. The stock was acquired at an average price of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,139.89). 40.29% of the stock is owned by insiders.

About Ceres Power

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel
cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres’ solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.