Ceres Power (LON:CWR) Stock Price Down 39% – What’s Next?

Ceres Power Holdings plc (LON:CWR) shares dropped 39% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.90 ($1.01). Approximately 34,389,582 shares traded hands during trading, an increase of 1,593% from the average daily volume of 2,031,163 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Ratings Changes

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

Ceres Power Trading Down 38.5 %

The stock has a market cap of £157.02 million, a PE ratio of -3.89 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. The business has a 50-day moving average of GBX 159.68 and a 200 day moving average of GBX 186.33.

Insider Transactions at Ceres Power

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