Ceres Power (LON:CWR) Hits New 12-Month Low on Analyst Downgrade

Ceres Power Holdings plc (LON:CWR)’s share price hit a new 52-week low during mid-day trading on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 650 to GBX 340. Berenberg Bank currently has a buy rating on the stock. Ceres Power traded as low as GBX 68 ($0.86) and last traded at GBX 71 ($0.90), with a volume of 2263473 shares trading hands. The stock had previously closed at GBX 69.60 ($0.88).

Insider Activity

In related news, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction dated Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,155.89). Also, insider Stuart Paynter acquired 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,598.09). Insiders own 40.29% of the company’s stock.

Ceres Power Trading Up 2.0 %

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The stock has a 50-day moving average price of GBX 152.16 and a two-hundred day moving average price of GBX 182.91. The stock has a market capitalization of £138.41 million, a PE ratio of -3.43 and a beta of 1.60.

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.