Ceres Power (LON:CWR) Shares Down 11.1% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) was down 11.1% during trading on Wednesday . The company traded as low as GBX 51.10 ($0.65) and last traded at GBX 52.10 ($0.67). Approximately 1,641,298 shares changed hands during trading, a decline of 20% from the average daily volume of 2,054,191 shares. The stock had previously closed at GBX 58.60 ($0.75).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank decreased their price objective on Ceres Power from GBX 650 ($8.31) to GBX 340 ($4.34) and set a “buy” rating for the company in a research report on Tuesday, February 25th.

Ceres Power Price Performance

The company has a market cap of £101.56 million, a P/E ratio of -2.52 and a beta of 1.60. The company’s 50-day moving average price is GBX 83.65 and its 200-day moving average price is GBX 153.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Buying and Selling at Ceres Power

In other news, insider Stuart Paynter acquired 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average cost of GBX 139 ($1.78) per share, for a total transaction of £9,939.89 ($12,701.11). 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.