Ceres Power (LON:CWR) Stock Price Down 34.9% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 34.9% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.24 ($1.08). 32,845,063 shares changed hands during trading, an increase of 1,552% from the average session volume of 1,988,260 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.21) price target on shares of Ceres Power in a research note on Wednesday, January 29th.

Ceres Power Stock Performance

The firm has a market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The firm has a 50 day moving average price of GBX 156.02 and a 200-day moving average price of GBX 184.78.

Insider Activity

In related news, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Also, insider Dame Julia King bought 30,200 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The stock was acquired at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). 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.