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

Ceres Power Holdings plc (LON:CWR) shares fell 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 8,976,891 shares changed hands during mid-day trading, an increase of 577% from the average session volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 650 ($8.24) price target on shares of Ceres Power in a research note on Wednesday, January 29th.

Ceres Power Trading Down 38.5 %

The firm has a market cap of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60. The firm’s fifty day moving average is GBX 157.82 and its two-hundred day moving average is GBX 185.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Insider Buying and Selling

In related news, insider Stuart Paynter acquired 7,151 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,594.89). Also, insider Dame Julia King acquired 30,200 shares of the business’s stock in a transaction that occurred on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.09) per share, with a total value of £49,830 ($63,139.89). 40.29% of the stock is currently owned by company 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.