Ceres Power (LON:CWR) Trading Down 11.1% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price was down 11.1% during trading on Wednesday . 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 Upgrades and Downgrades

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

Ceres Power Trading Down 11.1 %

The stock’s 50 day moving average is GBX 87.58 and its 200-day moving average is GBX 155.29. 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 has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Insider Activity

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