Ceres Power (LON:CWR) Trading Down 39% – What’s Next?

Ceres Power Holdings plc (LON:CWR) was down 39% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.96 ($1.01). Approximately 34,326,074 shares traded hands during trading, an increase of 1,591% from the average daily volume of 2,029,399 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Upgrades and Downgrades

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

Ceres Power Stock Down 2.9 %

The company has a market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The stock’s fifty day simple moving average is GBX 156.02 and its two-hundred day simple moving average is GBX 184.78. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insiders Place Their Bets

In other Ceres Power news, 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 cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 7,151 shares of the company’s stock in a transaction 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). 40.29% of the stock is 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.