Ceres Power (LON:CWR) Trading Down 38.5% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares traded down 38.5% on Friday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 8,976,891 shares were traded during trading, an increase of 577% from the average session volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

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

Ceres Power Price Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a market cap of £156.34 million, a P/E ratio of -3.88 and a beta of 1.60. The company’s 50 day simple moving average is GBX 157.82 and its 200 day simple moving average is GBX 185.60.

Insider Buying and Selling at Ceres Power

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