Ceres Power (LON:CWR) Trading Down 35.6% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares dropped 35.6% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 84.42 ($1.07). Approximately 31,792,707 shares were traded during trading, an increase of 1,523% from the average daily volume of 1,959,028 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.21) price target on shares of Ceres Power in a research note on Wednesday, January 29th.

Ceres Power Stock Performance

The company has a market capitalization of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The firm has a 50 day moving average price of GBX 156.02 and a two-hundred day moving average price of GBX 184.78. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Activity

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Also, insider Dame Julia King purchased 30,200 shares of the firm’s stock in a transaction that occurred on Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Corporate insiders own 40.29% of the company’s stock.

Ceres Power Company Profile

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.