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

Ceres Power Holdings plc (LON:CWR) shares traded down 38.5% on Thursday . The stock 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 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 ($1.66).

Analyst Ratings Changes

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

Ceres Power Trading Down 2.9 %

The firm has a market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The business has a fifty day moving average price of GBX 156.02 and a 200 day moving average price of GBX 184.78.

Insider Transactions at Ceres Power

In other news, insider Dame Julia King acquired 30,200 shares of the company’s stock in a transaction dated Thursday, November 28th. The stock was acquired at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Also, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). 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.