Ceres Power (LON:CWR) Stock Price Down 38.5% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) fell 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.01). 8,976,891 shares traded 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 ($1.65).

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 650 ($8.18) target price on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Stock Down 38.5 %

The firm has a market capitalization of £157.02 million, a price-to-earnings ratio of -3.89 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. The business’s 50 day moving average is GBX 159.68 and its 200-day moving average is GBX 186.33.

Insider Activity

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). Also, insider Dame Julia King acquired 30,200 shares of Ceres Power stock in a transaction dated Thursday, November 28th. The stock was acquired at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). 40.29% of the stock is currently owned by company 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.