Ceres Power (LON:CWR) Stock Price Down 11.1% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) shares dropped 11.1% during mid-day trading on Thursday . The company traded as low as GBX 51.10 ($0.67) and last traded at GBX 52.10 ($0.68). Approximately 1,641,298 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 2,054,191 shares. The stock had previously closed at GBX 58.60 ($0.77).

Wall Street Analyst Weigh In

Separately, Berenberg Bank dropped their target price on shares of Ceres Power from GBX 650 ($8.51) to GBX 340 ($4.45) and set a “buy” rating for the company in a report on Tuesday, February 25th.

Ceres Power Price Performance

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 50-day moving average of GBX 79.93 and a 200-day moving average of GBX 151.70. The stock has a market capitalization of £107.41 million, a price-to-earnings ratio of -2.66 and a beta of 1.60.

Insider Activity at Ceres Power

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of GBX 139 ($1.82) per share, with a total value of £9,939.89 ($13,010.33). 40.29% of the stock is currently 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.