Ceres Power (LON:CWR) Shares Down 13.9% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) dropped 13.9% on Tuesday . The company traded as low as GBX 316.20 and last traded at GBX 316.80. 4,373,837 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 10,267,197 shares. The stock had previously closed at GBX 367.80.

Analyst Upgrades and Downgrades

CWR has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 920 target price on shares of Ceres Power in a research note on Wednesday, June 10th. Berenberg Bank raised their price target on shares of Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 950.

Ceres Power Trading Down 13.9%

The company has a fifty day simple moving average of GBX 572.30 and a two-hundred day simple moving average of GBX 445.47. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24. The company has a market cap of £677.31 million, a PE ratio of -12.92 and a beta of 2.90.

Insider Activity at Ceres Power

In other news, insider Philip Caldwell sold 456,940 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total transaction of £2,842,166.80. Corporate insiders own 7.28% of the company’s stock.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.