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

Shares of Ceres Power Holdings plc (LON:CWR) dropped 38.5% during trading on Thursday . The stock 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).

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.21) target price on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Stock Down 2.9 %

The company has a market capitalization of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The firm’s 50 day moving average price is GBX 156.02 and its two-hundred day moving average price is GBX 184.78. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Dame Julia King purchased 30,200 shares of the firm’s stock in a transaction dated Thursday, November 28th. The stock was bought at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 7,151 shares of the firm’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, with a total value of £9,939.89 ($12,558.29). Company 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.