Ceres Power (LON:CWR) Hits New 1-Year Low – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price reached a new 52-week low on Monday . The stock traded as low as GBX 58.15 ($0.75) and last traded at GBX 65.15 ($0.84), with a volume of 1263510 shares changing hands. The stock had previously closed at GBX 61.90 ($0.80).

Analysts Set New Price Targets

Separately, Berenberg Bank lowered their price target on Ceres Power from GBX 650 ($8.40) to GBX 340 ($4.40) and set a “buy” rating for the company in a research report on Tuesday, February 25th.

Ceres Power Price Performance

The stock has a market capitalization of £127.00 million, a price-to-earnings ratio of -3.15 and a beta of 1.60. 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 stock’s 50 day simple moving average is GBX 124.39 and its 200-day simple moving average is GBX 171.33.

Insider Activity at Ceres Power

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.80) per share, with a total value of £9,939.89 ($12,848.88). 40.29% of the stock is currently owned by corporate 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.