Ceres Power (LON:CWR) Shares Down 38.5% – What’s Next?

Ceres Power Holdings plc (LON:CWR) dropped 38.5% during mid-day trading on Friday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares traded hands during mid-day trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 650 ($8.24) target price on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Trading Up 0.7 %

The company has a market cap of £158.19 million, a P/E ratio of -3.92 and a beta of 1.60. The firm’s 50 day moving average is GBX 157.82 and its two-hundred day moving average is GBX 185.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Insider Buying and Selling at Ceres Power

In other news, insider Dame Julia King bought 30,200 shares of the stock in a transaction that occurred on Thursday, November 28th. The stock was acquired at an average price of GBX 165 ($2.09) per share, with a total value of £49,830 ($63,139.89). Also, insider Stuart Paynter bought 7,151 shares of the company’s stock in a transaction that occurred 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 ($12,594.89). Corporate insiders own 40.29% of the company’s stock.

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.