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

Ceres Power Holdings plc (LON:CWR)’s stock price fell 38.5% during trading on Friday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 8,976,891 shares changed hands 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).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 650 ($8.24) price target on shares of Ceres Power in a 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 company has a fifty day moving average price of GBX 157.82 and a 200 day moving average price of GBX 185.60. The company has a market cap of £158.19 million, a PE ratio of -3.92 and a beta of 1.60.

Insiders Place Their Bets

In other news, insider Stuart Paynter acquired 7,151 shares of the business’s stock in a transaction dated 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). Also, insider Dame Julia King acquired 30,200 shares of the firm’s stock in a transaction that occurred on Thursday, November 28th. The shares were purchased at an average cost of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,139.89). Corporate insiders own 40.29% of the company’s stock.

Ceres Power Company Profile

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.