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

Ceres Power Holdings plc (LON:CWR)’s stock price dropped 38.5% during mid-day trading 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 were traded 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).

Wall Street Analyst Weigh In

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

Ceres Power Stock Performance

The stock has a market capitalization of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. The stock has a fifty day moving average of GBX 156.02 and a 200-day moving average of GBX 184.78. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Insider Activity at Ceres Power

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

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.