Ceres Power (LON:CWR) Reaches New 12-Month Low – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 57.20 ($0.74) and last traded at GBX 57.50 ($0.74), with a volume of 41222336 shares traded. The stock had previously closed at GBX 60.70 ($0.79).

Analysts Set New Price Targets

Separately, Berenberg Bank dropped their price objective on Ceres Power from GBX 650 ($8.41) to GBX 340 ($4.40) and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Trading Down 2.9 %

The company has a market capitalization of £108.29 million, a P/E ratio of -2.69 and a beta of 1.60. The firm has a fifty day moving average price of GBX 102.93 and a 200-day moving average price of GBX 163.08. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Activity at Ceres Power

In other news, insider Stuart Paynter acquired 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.80) per share, with a total value of £9,939.89 ($12,865.51). 40.29% of the stock is owned by corporate 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.