Ceres Power (LON:CWR) Reaches New 1-Year Low – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares reached a new 52-week low during trading on Monday . The company traded as low as GBX 58.15 ($0.76) and last traded at GBX 65.15 ($0.85), with a volume of 1263510 shares. The stock had previously closed at GBX 61.90 ($0.80).

Wall Street Analyst Weigh In

Separately, Berenberg Bank cut their target price on Ceres Power from GBX 650 ($8.45) to GBX 340 ($4.42) and set a “buy” rating on the stock in a research report on Tuesday, February 25th.

Ceres Power Price Performance

The stock has a market cap of £133.54 million, a price-to-earnings ratio of -3.31 and a beta of 1.60. The company has a 50-day moving average of GBX 119.68 and a 200-day moving average of GBX 169.65. 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 Transactions at Ceres Power

In other news, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.81) per share, with a total value of £9,939.89 ($12,922.37). Corporate insiders own 40.29% of the company’s stock.

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.