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

Ceres Power Holdings plc (LON:CWR)’s stock price was down 38.5% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares were traded 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).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 650 ($8.21) price target 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 company has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The business’s fifty day moving average is GBX 156.02 and its 200 day moving average is GBX 184.78.

Insider Buying and Selling

In other Ceres Power news, insider Dame Julia King acquired 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The stock was acquired 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 acquired 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). 40.29% of the stock is currently owned by 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.