Ceres Power (LON:CWR) Trading Down 36.2% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 36.2% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.05). 33,563,258 shares were traded during trading, an increase of 1,571% from the average session volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.65).

Wall Street Analyst Weigh In

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

Ceres Power Trading Down 40.3 %

The company has a 50 day moving average of GBX 159.68 and a 200-day moving average of GBX 186.33. The stock has a market cap of £152.49 million, a price-to-earnings ratio of -3.78 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.

Insider Buying and Selling at Ceres Power

In other news, insider Stuart Paynter acquired 7,151 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). Also, insider Dame Julia King bought 30,200 shares of the firm’s stock in a transaction on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). 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.