Ceres Power (LON:CWR) Trading Down 38.5% – Here’s Why

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

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 650 ($8.24) target price on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Stock Performance

The company has a market capitalization of £158.19 million, a price-to-earnings ratio of -3.92 and a beta of 1.60. The company has a 50 day moving average price of GBX 157.82 and a 200 day moving average price of GBX 185.60. 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 Ceres Power 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 ($1.76) per share, for a total transaction of £9,939.89 ($12,594.89). Also, 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 acquired at an average cost of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,139.89). Corporate 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.