Ceres Power (LON:CWR) Trading Down 35.6% – Here’s Why

Ceres Power Holdings plc (LON:CWR) traded down 35.6% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 84.42 ($1.07). 31,792,707 shares traded hands during trading, an increase of 1,523% from the average session volume of 1,959,028 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

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

Ceres Power Stock Down 2.9 %

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 firm has a market cap of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The firm has a 50-day moving average of GBX 156.02 and a two-hundred day moving average of GBX 184.78.

Insider Buying and Selling

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King purchased 30,200 shares of the stock in a transaction that occurred on Thursday, November 28th. The shares were purchased at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). 40.29% of the stock is owned by insiders.

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.