Ceres Power (LON:CWR) Shares Down 40.8% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares were down 40.8% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 77.50 ($0.98). Approximately 29,728,082 shares were traded during trading, an increase of 1,463% from the average daily volume of 1,901,677 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

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

Ceres Power Stock Performance

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

Insiders Place Their Bets

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