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

Ceres Power Holdings plc (LON:CWR) shares hit a new 52-week low during trading on Monday . The company traded as low as GBX 58.15 ($0.75) and last traded at GBX 65.15 ($0.84), with a volume of 1263510 shares changing hands. The stock had previously closed at GBX 61.90 ($0.80).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reduced their price target on Ceres Power from GBX 650 ($8.40) to GBX 340 ($4.40) and set a “buy” rating on the stock in a report on Tuesday, February 25th.

Ceres Power Stock 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 company’s 50 day moving average is GBX 124.39 and its 200-day moving average is GBX 171.33. The company has a market capitalization of £127.00 million, a P/E ratio of -3.15 and a beta of 1.60.

Insider Buying and Selling

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average cost of GBX 139 ($1.80) per share, for a total transaction of £9,939.89 ($12,848.88). 40.29% of the stock is owned by company 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.