Ceres Power (LON:CWR) Shares Down 39% – What’s Next?

Ceres Power Holdings plc (LON:CWR) shares dropped 39% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.96 ($1.01). Approximately 34,326,074 shares were traded during trading, an increase of 1,591% from the average daily volume of 2,029,399 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

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

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 firm has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The company has a fifty day moving average price of GBX 156.02 and a two-hundred day moving average price of GBX 184.78.

Insider Activity

In other news, insider Dame Julia King bought 30,200 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average cost 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.