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

Ceres Power Holdings plc (LON:CWR)’s share price traded down 38.5% 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).

Analyst Upgrades and Downgrades

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

Ceres Power Stock Performance

The company has a market capitalization of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60. The firm has a 50 day moving average price of GBX 159.68 and a two-hundred day moving average price 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.

Insiders Place Their Bets

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