Ceres Power (LON:CWR) Trading Down 38.5% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) dropped 38.5% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares changed hands during trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 650 ($8.24) price objective on shares of Ceres Power in a research note on Wednesday, January 29th.

Ceres Power Price Performance

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 business has a 50-day moving average of GBX 157.82 and a 200 day moving average of GBX 185.60. The firm has a market capitalization of £157.02 million, a PE ratio of -3.89 and a beta of 1.60.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Dame Julia King purchased 30,200 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The shares were acquired at an average cost of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,139.89). Also, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction on Wednesday, January 29th. The stock was acquired at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,594.89). Company 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.