Ceres Power (LON:CWR) Stock Price Down 34.9% – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) traded down 34.9% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.24 ($1.08). 32,845,063 shares changed hands during mid-day trading, an increase of 1,552% from the average session volume of 1,988,260 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Down 2.9 %

The company has a market capitalization of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The firm has a 50-day moving average of GBX 156.02 and a two-hundred day moving average of GBX 184.78.

Insider Buying and Selling

In other news, insider Dame Julia King purchased 30,200 shares of the firm’s stock in a transaction on Thursday, November 28th. The shares were bought at an average cost of GBX 165 ($2.08) per share, for a total transaction 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 purchased at an average price of GBX 139 ($1.76) per share, for a total transaction 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.