Ceres Power (LON:CWR) Trading Down 39% – What’s Next?

Ceres Power Holdings plc (LON:CWR) shares traded down 39% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.96 ($1.01). 34,326,074 shares were traded during mid-day trading, an increase of 1,591% from the average session volume of 2,029,399 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Upgrades and Downgrades

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

Ceres Power Price Performance

The company’s fifty day moving average price is GBX 156.02 and its 200 day moving average price is 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 firm has a market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60.

Insider Activity

In other news, insider Dame Julia King bought 30,200 shares of Ceres Power stock in a transaction on Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 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, with a total value of £9,939.89 ($12,558.29). 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.