Ceres Power (LON:CWR) Reaches New 52-Week Low – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) hit a new 52-week low during trading on Monday . The company traded as low as GBX 60 ($0.78) and last traded at GBX 61.10 ($0.79), with a volume of 620174 shares traded. The stock had previously closed at GBX 62.65 ($0.81).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank dropped their price objective on Ceres Power from GBX 650 ($8.40) to GBX 340 ($4.40) and set a “buy” rating for the company in a report on Tuesday, February 25th.

Ceres Power Price Performance

The firm has a market capitalization of £119.11 million, a price-to-earnings ratio of -2.95 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The company’s fifty day moving average is GBX 135.62 and its two-hundred day moving average is GBX 175.93.

Insider Activity

In related news, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.80) per share, for a total transaction of £9,939.89 ($12,848.88). 40.29% of the stock is currently owned by company insiders.

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.