Ceres Power (LON:CWR) Shares Down 11.1% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) dropped 11.1% on Thursday . The stock traded as low as GBX 51.10 ($0.67) and last traded at GBX 52.10 ($0.68). Approximately 1,641,298 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 2,054,191 shares. The stock had previously closed at GBX 58.60 ($0.77).

Analysts Set New Price Targets

Separately, Berenberg Bank decreased their target price on shares of Ceres Power from GBX 650 ($8.51) to GBX 340 ($4.45) and set a “buy” rating for the company in a research report on Tuesday, February 25th.

Ceres Power Stock Down 3.3 %

The firm has a market capitalization of £107.41 million, a P/E ratio of -2.66 and a beta of 1.60. The firm’s fifty day moving average price is GBX 79.93 and its 200-day moving average price is GBX 151.70. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Buying and Selling at Ceres Power

In other news, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.82) per share, with a total value of £9,939.89 ($13,010.33). 40.29% of the stock is currently owned by corporate 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.