Ceres Power (LON:CWR) Trading Down 38.5% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) fell 38.5% during 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 were traded during 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).

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Performance

The firm has a market cap of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60. 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 business’s fifty day simple moving average is GBX 159.68 and its 200-day simple moving average is GBX 186.33.

Insider Transactions at Ceres Power

In related news, insider Stuart Paynter bought 7,151 shares of the company’s 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). Also, insider Dame Julia King bought 30,200 shares of the company’s stock in a transaction dated Thursday, November 28th. The stock was bought at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Corporate 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.