Ceres Power (LON:CWR) Stock Price Down 38.5% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s share price was down 38.5% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares traded hands during mid-day trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

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

Ceres Power Trading Down 2.9 %

The business has a fifty day moving average of GBX 156.02 and a 200-day moving average of GBX 184.78. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The company has a market capitalization of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60.

Insider Activity at Ceres Power

In related news, insider Stuart Paynter purchased 7,151 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King acquired 30,200 shares of Ceres Power stock in a transaction on Thursday, November 28th. The shares were purchased at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). 40.29% of the stock is owned by insiders.

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.