Ceres Power (LON:CWR) Shares Down 37.6% – What’s Next?

Ceres Power Holdings plc (LON:CWR) shares were down 37.6% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 81.75 ($1.03). Approximately 78,442,344 shares were traded during mid-day trading, an increase of 2,310% from the average daily volume of 3,254,851 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Ratings Changes

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 650 ($8.18) price target 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 quick ratio of 12.18 and a current ratio of 6.48. The stock has a market cap of £157.02 million, a PE ratio of -3.89 and a beta of 1.60. The company’s 50 day simple moving average is GBX 159.68 and its 200 day simple moving average is GBX 186.33.

Insider Buying and Selling

In other news, insider Stuart Paynter purchased 7,151 shares of the company’s stock in a transaction 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 acquired 30,200 shares of the company’s stock in a transaction on Thursday, November 28th. The stock was acquired at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). 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.