Ceres Power (LON:CWR) Trading Down 11.1% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares dropped 11.1% during trading on Thursday . The stock traded as low as GBX 51.10 ($0.65) and last traded at GBX 52.10 ($0.67). Approximately 1,641,298 shares were traded 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).

Analyst Ratings Changes

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

Ceres Power Stock Up 14.1 %

The company’s 50 day moving average price is GBX 83.65 and its two-hundred day moving average price is GBX 153.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The stock has a market cap of £115.88 million, a P/E ratio of -2.87 and a beta of 1.60.

Insider Activity

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.78) per share, with a total value of £9,939.89 ($12,701.11). 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.