Ceres Power (LON:CWR) Trading Down 40.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price was down 40.4% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 78.08 ($0.98). Approximately 28,374,732 shares changed hands during mid-day trading, an increase of 1,422% from the average daily volume of 1,864,084 shares. The stock had previously closed at GBX 131 ($1.65).

Wall Street Analyst Weigh In

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

Ceres Power Price Performance

The company has a market cap of £168.52 million, a price-to-earnings ratio of -4.18 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 price is GBX 159.68 and its two-hundred day moving average price is GBX 186.33.

Insider Activity

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of Ceres Power stock in a transaction that occurred 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). Also, insider Stuart Paynter bought 7,151 shares of Ceres Power 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, with a total value of £9,939.89 ($12,507.73). Corporate 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.