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

Ceres Power Holdings plc (LON:CWR) fell 36.2% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.06). 33,563,258 shares changed hands during mid-day trading, an increase of 1,571% from the average session volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

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

Ceres Power Price Performance

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 stock has a market cap of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. The company’s 50 day moving average is GBX 156.02 and its 200-day moving average is GBX 184.78.

Insider Activity

In related news, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost 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 firm’s stock in a transaction on Thursday, November 28th. The shares were bought at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). 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.