Ceres Power (LON:CWR) Trading Down 34.5% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price was down 34.5% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.79 ($1.08). Approximately 33,282,238 shares changed hands during trading, an increase of 1,564% from the average daily volume of 2,000,404 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

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

Ceres Power Stock Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock’s 50-day moving average price is GBX 159.68 and its 200-day moving average price is GBX 186.33. The company has a market cap of £163.07 million, a P/E ratio of -4.04 and a beta of 1.60.

Insiders Place Their Bets

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