Ceres Power (LON:CWR) Trading Down 38.5% – Here’s Why

Ceres Power Holdings plc (LON:CWR) was down 38.5% during mid-day 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).

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 report on Wednesday, January 29th.

Ceres Power Stock Down 2.9 %

The firm’s 50 day simple moving average is GBX 156.02 and its 200 day simple moving average is GBX 184.78. The company has a market cap of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Insider Buying and Selling at Ceres Power

In other news, insider Dame Julia King purchased 30,200 shares of the company’s stock in a transaction on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Also, 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 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). 40.29% of the stock is owned by company insiders.

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.