Ceres Power (LON:CWR) Shares Down 38.5% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s stock price fell 38.5% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.01). 8,976,891 shares traded hands during mid-day trading, an increase of 577% from the average session volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

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

Ceres Power Price Performance

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 has a market capitalization of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60. The company’s 50 day simple moving average is GBX 159.68 and its two-hundred day simple moving average is GBX 186.33.

Insiders Place Their Bets

In related news, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,507.73). Also, insider Dame Julia King purchased 30,200 shares of the firm’s stock in a transaction dated Thursday, November 28th. The shares were bought at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). Insiders own 40.29% of the company’s stock.

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.