Ceres Power (LON:CWR) Stock Price Down 38.5% – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) traded down 38.5% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.01). 8,976,891 shares were traded during mid-day trading, an increase of 577% from the average session volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.65).

Wall Street Analyst Weigh In

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

Ceres Power Stock Performance

The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The stock has a fifty day simple moving average of GBX 159.68 and a 200-day simple moving average of GBX 186.33. The company has a market capitalization of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60.

Insider Activity at Ceres Power

In other Ceres Power news, insider Dame Julia King purchased 30,200 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction on Wednesday, January 29th. The stock was acquired at an average cost of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). 40.29% of the stock is currently owned by 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.