Ceres Power (LON:CWR) Reaches New 12-Month Low After Analyst Downgrade

Ceres Power Holdings plc (LON:CWR) hit a new 52-week low during mid-day trading on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 650 to GBX 340. Berenberg Bank currently has a buy rating on the stock. Ceres Power traded as low as GBX 68 ($0.86) and last traded at GBX 71 ($0.90), with a volume of 2263473 shares traded. The stock had previously closed at GBX 69.60 ($0.88).

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King acquired 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The stock was bought at an average price of GBX 165 ($2.09) per share, with a total value of £49,830 ($63,155.89). Also, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,598.09). 40.29% of the stock is currently owned by corporate insiders.

Ceres Power Stock Up 2.0 %

The business’s fifty day moving average price is GBX 152.16 and its two-hundred day moving average price is GBX 182.91. The stock has a market capitalization of £138.41 million, a PE ratio of -3.43 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

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.