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

Shares of Ceres Power Holdings plc (LON:CWR) traded down 37.6% 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 were traded 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 ($1.66).

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 650 ($8.21) price target on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Trading Down 2.9 %

The firm has a market cap of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. The business has a 50-day moving average price of GBX 156.02 and a two-hundred day moving average price of GBX 184.78. 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

In related news, insider Stuart Paynter acquired 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 ($12,558.29). Also, insider Dame Julia King acquired 30,200 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Company 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.