Ceres Power (LON:CWR) Stock Price Down 36.2% – What’s Next?

Ceres Power Holdings plc (LON:CWR) was down 36.2% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.05). Approximately 33,563,258 shares changed hands during mid-day trading, an increase of 1,571% from the average daily volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 650 ($8.18) price objective on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Trading Down 37.2 %

The company has a fifty day simple moving average of GBX 159.68 and a two-hundred day simple moving average of GBX 186.33. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The company has a market cap of £160.50 million, a PE ratio of -3.98 and a beta of 1.60.

Insider Transactions at Ceres Power

In other news, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction on Wednesday, January 29th. The stock was bought 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 acquired 30,200 shares of the company’s stock in a transaction on Thursday, November 28th. The stock was acquired at an average price 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.

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.