Ceres Power (LON:CWR) Reaches New 1-Year Low – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 65.70 ($0.83) and last traded at GBX 66 ($0.84), with a volume of 1033076 shares traded. The stock had previously closed at GBX 70.30 ($0.89).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank decreased their price target on Ceres Power from GBX 650 ($8.26) to GBX 340 ($4.32) and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Stock Down 6.1 %

The company has a market capitalization of £128.66 million, a P/E ratio of -3.19 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. The stock’s fifty day moving average is GBX 144.28 and its 200 day moving average is GBX 179.52.

Insider Activity

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.77) per share, with a total value of £9,939.89 ($12,631.71). Insiders own 40.29% of the company’s stock.

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.