Ceres Power (LON:CWR) Trading Down 37.6% – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) were down 37.6% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 81.75 ($1.03). Approximately 78,442,344 shares were traded during trading, an increase of 2,310% from the average daily volume of 3,254,851 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

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

Ceres Power Price Performance

The company has a market cap of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60. The stock has a 50-day simple moving average of GBX 159.68 and a 200 day simple moving average of GBX 186.33. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Buying and Selling

In other Ceres Power news, insider Dame Julia King purchased 30,200 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter bought 7,151 shares of the stock in a transaction dated Wednesday, January 29th. The stock was purchased at an average cost of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,507.73). 40.29% of the stock is currently owned by corporate insiders.

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.