Ceres Power (LON:CWR) Shares Down 12.5% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price was down 12.5% on Friday . The stock traded as low as GBX 62.15 ($0.81) and last traded at GBX 62.62 ($0.81). Approximately 1,178,544 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 1,951,336 shares. The stock had previously closed at GBX 71.55 ($0.93).

Analyst Ratings Changes

Separately, Berenberg Bank cut their price target on Ceres Power from GBX 650 ($8.43) to GBX 340 ($4.41) and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Price 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 has a market cap of £122.07 million, a PE ratio of -3.03 and a beta of 1.60. The firm has a 50 day moving average of GBX 115.64 and a two-hundred day moving average of GBX 168.30.

Insider Buying and Selling

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.80) per share, with a total value of £9,939.89 ($12,888.86). 40.29% of the stock is currently 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.