Ceres Power (LON:CWR) Shares Down 38.5% – Here’s Why

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 ($1.01). Approximately 8,976,891 shares changed hands during trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.65).

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Down 38.5 %

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 has a fifty day moving average price of GBX 159.68 and a 200-day moving average price of GBX 186.33. The stock has a market capitalization of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60.

Insider Transactions at Ceres Power

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