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

Shares of Ceres Power Holdings plc (LON:CWR) dropped 38.5% 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 traded 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).

Analyst Upgrades and Downgrades

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

Ceres Power Trading Down 38.5 %

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 company has a market cap of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60. The stock has a 50-day moving average of GBX 159.68 and a two-hundred day moving average of GBX 186.33.

Insider Activity at Ceres Power

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the business’s stock in a transaction 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). Also, insider Dame Julia King bought 30,200 shares of the business’s stock in a transaction on Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). 40.29% of the stock is owned by corporate insiders.

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.