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

Ceres Power Holdings plc (LON:CWR)’s share price traded down 38.5% during trading 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 restated a “buy” rating and issued a GBX 650 ($8.24) price objective on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Stock Up 0.7 %

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 firm’s 50-day moving average price is GBX 157.82 and its 200 day moving average price is GBX 185.60. The firm has a market capitalization of £158.19 million, a price-to-earnings ratio of -3.92 and a beta of 1.60.

Insider Activity at Ceres Power

In related 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 price of GBX 165 ($2.09) per share, with a total value of £49,830 ($63,139.89). Also, insider Stuart Paynter bought 7,151 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average cost of GBX 139 ($1.76) per share, for a total transaction 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.