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

Ceres Power Holdings plc (LON:CWR)’s share price traded down 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 ($1.01). 8,976,891 shares were traded during mid-day trading, an increase of 577% from the average session volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.18) price objective on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Price Performance

The company has a fifty day moving average of GBX 159.68 and a 200-day moving average of GBX 186.33. 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 has a market cap of £157.02 million, a PE ratio of -3.89 and a beta of 1.60.

Insider Transactions at Ceres Power

In other news, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). Also, insider Dame Julia King acquired 30,200 shares of the company’s stock in a transaction on Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). Corporate 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.