Ceres Power (LON:CWR) Trading Down 36.2% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price was down 36.2% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.06). Approximately 33,563,258 shares changed hands during trading, an increase of 1,571% from the average daily volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 650 ($8.21) target price on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Price Performance

The firm has a market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The stock’s fifty day moving average price is GBX 156.02 and its two-hundred day moving average price is GBX 184.78. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Insider Activity at Ceres Power

In other news, insider Stuart Paynter purchased 7,151 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King bought 30,200 shares of the stock in a transaction dated Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). 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.