Ceres Power (LON:CWR) Stock Price Down 35.6% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 35.6% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 84.42 ($1.06). 31,792,707 shares traded hands during mid-day trading, an increase of 1,523% from the average session volume of 1,959,028 shares. The stock had previously closed at GBX 131 ($1.65).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed 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 Trading Down 36.1 %

The stock has a 50-day moving average price of GBX 159.68 and a two-hundred day moving average price of GBX 186.33. The stock has a market capitalization of £163.07 million, a PE ratio of -4.04 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.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the firm’s stock in a transaction that occurred on Thursday, November 28th. The shares were bought at an average price 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 the business’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,507.73). 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.