Ceres Power (LON:CWR) Shares Down 12.5% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 12.5% during mid-day trading on Friday . The company traded as low as GBX 62.15 ($0.81) and last traded at GBX 62.62 ($0.81). 1,178,544 shares traded hands during trading, a decline of 40% from the average session volume of 1,951,336 shares. The stock had previously closed at GBX 71.55 ($0.93).

Analyst Ratings Changes

Separately, Berenberg Bank reduced their price target on Ceres Power from GBX 650 ($8.43) to GBX 340 ($4.41) and set a “buy” rating on the stock in a report on Tuesday, February 25th.

Ceres Power Stock Performance

The business has a fifty day moving average of GBX 115.64 and a 200-day moving average of GBX 168.30. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The company has a market cap of £122.07 million, a PE ratio of -3.03 and a beta of 1.60.

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.80) per share, for a total transaction of £9,939.89 ($12,888.86). Company 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.