Ceres Power (LON:CWR) Reaches New 52-Week Low – Here’s Why

Ceres Power Holdings plc (LON:CWR) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as GBX 65.70 ($0.83) and last traded at GBX 66 ($0.84), with a volume of 1033076 shares traded. The stock had previously closed at GBX 70.30 ($0.89).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank cut their target price on shares of Ceres Power from GBX 650 ($8.26) to GBX 340 ($4.32) and set a “buy” rating for the company in a research report on Tuesday, February 25th.

Ceres Power Price Performance

The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of £128.66 million, a PE ratio of -3.19 and a beta of 1.60. The business has a fifty day moving average price of GBX 144.28 and a 200-day moving average price of GBX 179.52.

Insider Buying and Selling

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.77) per share, for a total transaction of £9,939.89 ($12,631.71). 40.29% of the stock is currently owned by corporate 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.