Ceres Power (LON:CWR) Reaches New 12-Month Low on Analyst Downgrade

Shares of Ceres Power Holdings plc (LON:CWR) reached a new 52-week low during mid-day trading on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 650 to GBX 340. Berenberg Bank currently has a buy rating on the stock. Ceres Power traded as low as GBX 68 ($0.86) and last traded at GBX 71 ($0.90), with a volume of 2263473 shares trading hands. The stock had previously closed at GBX 69.60 ($0.88).

Insider Activity at Ceres Power

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,606.07). 40.29% of the stock is currently owned by insiders.

Ceres Power Price Performance

The firm has a 50-day moving average of GBX 150.06 and a 200-day moving average of GBX 182.13. The firm has a market capitalization of £137.72 million, a P/E ratio of -3.42 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.

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.