Ceres Power (LON:CWR) Shares Down 39% – Here’s Why

Ceres Power Holdings plc (LON:CWR) fell 39% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.90 ($1.01). 34,389,582 shares changed hands during mid-day trading, an increase of 1,593% from the average session volume of 2,031,163 shares. The stock had previously closed at GBX 131 ($1.65).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 650 ($8.18) price target on shares of Ceres Power in a research note on Wednesday, January 29th.

Ceres Power Price Performance

The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The stock’s 50-day moving average price is GBX 159.68 and its 200-day moving average price is GBX 186.33. The company has a market capitalization of £157.02 million, a price-to-earnings ratio of -3.89 and a beta of 1.60.

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 7,151 shares of the stock in a transaction on Wednesday, January 29th. The stock was purchased at an average price of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,507.73). Also, insider Dame Julia King bought 30,200 shares of the company’s stock in a transaction on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). 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.