Ceres Power (LON:CWR) Trading Down 36.2% – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) were down 36.2% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.06). Approximately 33,563,258 shares traded hands during mid-day trading, an increase of 1,571% from the average daily volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

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

Ceres Power Stock Performance

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 firm’s fifty day moving average price is GBX 156.02 and its two-hundred day moving average price is GBX 184.78. The stock has a market capitalization of £152.44 million, a PE ratio of -3.78 and a beta of 1.60.

Insider Activity at Ceres Power

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King acquired 30,200 shares of the business’s stock in a transaction dated Thursday, November 28th. The stock was acquired at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). 40.29% of the stock is owned by company 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.