Ceres Power (LON:CWR) Stock Price Down 34.9% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price traded down 34.9% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.24 ($1.07). 32,845,063 shares changed hands during trading, an increase of 1,552% from the average session volume of 1,988,260 shares. The stock had previously closed at GBX 131 ($1.65).

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.18) price objective on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Price Performance

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 cap of £163.07 million, a price-to-earnings ratio of -4.04 and a beta of 1.60. The business has a fifty day moving average price of GBX 159.68 and a 200 day moving average price of GBX 186.33.

Insider Activity at Ceres Power

In other news, insider Dame Julia King acquired 30,200 shares of the business’s stock in a transaction that occurred on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). 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.