Ceres Power (LON:CWR) Trading Down 37.6% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 37.6% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 81.75 ($1.03). 78,442,344 shares traded hands during mid-day trading, an increase of 2,310% from the average session volume of 3,254,851 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 report on Wednesday, January 29th.

Ceres Power Stock Down 38.5 %

The firm has a 50 day moving average price of GBX 159.68 and a 200-day moving average price of GBX 186.33. The firm has a market cap 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 current ratio of 6.48 and a quick ratio of 12.18.

Insider Buying and Selling at Ceres Power

In related news, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired 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 purchased 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The shares were bought at an average cost 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.

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.