Ceres Power (LON:CWR) Shares Down 39% – Here’s Why

Ceres Power Holdings plc (LON:CWR) traded down 39% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.90 ($1.01). 34,389,582 shares traded hands during mid-day trading, an increase of 1,593% from the average session volume of 2,031,163 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and issued 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 firm has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The stock’s 50 day moving average is GBX 156.02 and its two-hundred day moving average is GBX 184.78. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Activity at Ceres Power

In other news, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction on Thursday, November 28th. The shares were purchased 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 purchased 7,151 shares of Ceres Power stock in a transaction on Wednesday, January 29th. The stock was purchased at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). 40.29% of the stock is currently owned by insiders.

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.