Ceres Power (LON:CWR) Reaches New 12-Month Low – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as GBX 57.20 ($0.74) and last traded at GBX 57.50 ($0.74), with a volume of 41222336 shares changing hands. The stock had previously closed at GBX 60.70 ($0.78).

Analysts Set New Price Targets

Separately, Berenberg Bank decreased their price target on shares of Ceres Power from GBX 650 ($8.37) to GBX 340 ($4.38) and set a “buy” rating on the stock in a report on Tuesday, February 25th.

Ceres Power Price Performance

The business has a 50 day simple moving average of GBX 107.34 and a two-hundred day simple moving average of GBX 164.72. The firm has a market capitalization of £112.09 million, a P/E ratio of -2.78 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Activity at Ceres Power

In other news, insider Stuart Paynter purchased 7,151 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average price of GBX 139 ($1.79) per share, with a total value of £9,939.89 ($12,797.59). 40.29% of the stock is currently 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.