Ceres Power (LON:CWR) Hits New 12-Month Low – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) hit a new 52-week low during trading on Thursday . The company traded as low as GBX 57.20 ($0.74) and last traded at GBX 57.50 ($0.74), with a volume of 41222336 shares. The stock had previously closed at GBX 60.70 ($0.79).

Analysts Set New Price Targets

Separately, Berenberg Bank lowered their price objective on shares of Ceres Power from GBX 650 ($8.41) to GBX 340 ($4.40) and set a “buy” rating on the stock in a research report on Tuesday, February 25th.

Ceres Power Stock Performance

The business’s 50-day moving average price is GBX 102.93 and its 200-day moving average price is GBX 163.08. The stock has a market cap of £108.29 million, a P/E ratio of -2.69 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 7,151 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.80) per share, for a total transaction of £9,939.89 ($12,865.51). 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.