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

Ceres Power Holdings plc (LON:CWR) shares dropped 11.1% during trading on Thursday . The stock traded as low as GBX 51.10 ($0.65) and last traded at GBX 52.10 ($0.67). Approximately 1,641,298 shares changed hands during trading, a decline of 20% from the average daily volume of 2,054,191 shares. The stock had previously closed at GBX 58.60 ($0.75).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lowered their price target on Ceres Power from GBX 650 ($8.31) to GBX 340 ($4.34) and set a “buy” rating for the company in a research report on Tuesday, February 25th.

Ceres Power Stock Performance

The stock has a 50 day simple moving average of GBX 83.65 and a two-hundred day simple moving average of GBX 153.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The company has a market capitalization of £115.21 million, a price-to-earnings ratio of -2.86 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

In other news, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.78) per share, with a total value of £9,939.89 ($12,701.11). 40.29% of the stock is 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.