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

Ceres Power Holdings plc (LON:CWR) was down 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares changed hands during mid-day trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 650 ($8.21) target price on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Price Performance

The stock has a market cap of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. 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 firm’s fifty day moving average price is GBX 156.02 and its 200 day moving average price is GBX 184.78.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was acquired at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King bought 30,200 shares of the firm’s stock in a transaction dated Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Insiders own 40.29% of the company’s stock.

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.