Ceres Power (LON:CWR) Shares Down 36.2% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) traded down 36.2% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.05). 33,563,258 shares changed hands during trading, an increase of 1,571% from the average session volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 650 ($8.18) target price on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Stock Performance

The firm has a market capitalization of £162.87 million, a PE ratio of -4.04 and a beta of 1.60. The business has a 50-day simple moving average of GBX 159.68 and a 200-day simple moving average of GBX 186.33. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Activity at Ceres Power

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the business’s stock in a transaction dated Thursday, November 28th. The shares were purchased at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,507.73). 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.