Ceres Power (LON:CWR) Stock Price Down 36.2% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares dropped 36.2% during 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).

Analysts Set New Price Targets

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

Ceres Power Stock Performance

The company has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The stock has a fifty day moving average price of GBX 156.02 and a two-hundred day moving average price of GBX 184.78. 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 bought 7,151 shares of the business’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 company’s stock in a transaction on Thursday, November 28th. The stock was bought at an average price of GBX 165 ($2.08) per share, for a total transaction 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.