Ceres Power (LON:CWR) Trading Down 38.5% – What’s Next?

Ceres Power Holdings plc (LON:CWR) was down 38.5% on Friday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares changed hands during mid-day trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.24) price target on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Stock Up 0.7 %

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 firm has a market cap of £158.19 million, a P/E ratio of -3.92 and a beta of 1.60. The stock’s fifty day moving average is GBX 157.82 and its two-hundred day moving average is GBX 185.60.

Insiders Place Their Bets

In related news, insider Dame Julia King acquired 30,200 shares of the firm’s stock in a transaction dated Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.09) per share, with a total value of £49,830 ($63,139.89). Also, insider Stuart Paynter purchased 7,151 shares of the stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,594.89). Insiders own 40.29% of the company’s stock.

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.