Ceres Power (LON:CWR) Stock Price Down 37.6% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price traded down 37.6% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 81.75 ($1.03). 78,442,344 shares were traded during trading, an increase of 2,310% from the average session volume of 3,254,851 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued 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 Price Performance

The stock’s 50-day simple moving average is GBX 156.02 and its 200 day simple moving average is GBX 184.78. 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 company has a market cap of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King purchased 30,200 shares of the business’s stock in a transaction on Thursday, November 28th. The shares were bought at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Also, insider Stuart Paynter purchased 7,151 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). 40.29% of the stock is currently owned by corporate 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.