Ceres Power (LON:CWR) Trading Down 35.6% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price dropped 35.6% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 84.42 ($1.06). Approximately 31,792,707 shares were traded during trading, an increase of 1,523% from the average daily volume of 1,959,028 shares. The stock had previously closed at GBX 131 ($1.65).

Wall Street Analysts Forecast Growth

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

Ceres Power Trading Down 36.1 %

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

Insider Activity

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