Ceres Power (LON:CWR) Stock Price Down 34.5% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) fell 34.5% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.79 ($1.08). 33,282,238 shares traded hands during trading, an increase of 1,564% from the average session volume of 2,000,404 shares. The stock had previously closed at GBX 131 ($1.65).

Analysts Set New Price Targets

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

Ceres Power Trading Down 36.1 %

The business has a 50-day moving average of GBX 159.68 and a 200-day moving average of GBX 186.33. The stock has a market capitalization of £163.07 million, a price-to-earnings ratio of -4.04 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insiders Place Their Bets

In other news, insider Stuart Paynter acquired 7,151 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average cost of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). Also, insider Dame Julia King acquired 30,200 shares of the business’s stock in a transaction on 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). 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.