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

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

Analyst Upgrades and Downgrades

Separately, Berenberg Bank dropped their price objective on shares of Ceres Power from GBX 650 ($8.51) to GBX 340 ($4.45) and set a “buy” rating on the stock in a research note 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 business has a 50 day simple moving average of GBX 79.93 and a 200-day simple moving average of GBX 151.70. The firm has a market cap of £107.41 million, a price-to-earnings ratio of -2.66 and a beta of 1.60.

Insider Activity

In other news, insider Stuart Paynter purchased 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.82) per share, with a total value of £9,939.89 ($13,010.33). Corporate 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.