Ceres Power (LON:CWR) Stock Price Down 39% – Here’s Why

Ceres Power Holdings plc (LON:CWR) was down 39% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.90 ($1.01). 34,389,582 shares traded hands during trading, an increase of 1,593% from the average session volume of 2,031,163 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

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

Ceres Power Stock Performance

The stock has a market cap of £157.02 million, a price-to-earnings ratio of -3.89 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The company’s 50-day simple moving average is GBX 159.68 and its 200-day simple moving average is GBX 186.33.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the firm’s stock in a transaction dated Thursday, November 28th. The stock was acquired 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 purchased 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). Insiders own 40.29% of the company’s stock.

About Ceres Power

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.